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Gazprom Confesses Of Crisis Problems Possibility

Gazprom published a report that proves the fact thatthe company may have problems due to financial crisis

Russian business paper Kommersant announced that Gazprom's report shows the possibility of having problems attracting credit and refinancing its debt.

Also it became known that the gas monopoly is holding a competition to receive new credit and that it does not expect to show an increase in receipts or profit this year, in spite of high indicators in the first quarter.

On Monday, Gazprom chief Alexey Miller stated that “For a giant like Gazprom, a financial crisis is not a worrisome factor.” Nonetheless, the report notes that “The current situation may have negative influence on the ability of the group to receive new loans and refinance current debt at previous conditions. The general reduction in the level of liquidity may influence the ability of the group’s counteragents to ensure prompt payment of debts to Gazprom.” Gazprom has already asked the government for a loan of $1 billion for loan refinancing.

Author: Ksenia Kochneva