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14

Gazprom Won't Buy Back Its Shares Amid Crisis

RIA Novosti cited Mr Alexei Miller CEO of Gazprom as saying that Russian energy giant Gazprom has no plans to buy back its stock due to the ongoing global financial crisis

Mr Miller also said that Gazprom saw no risks for itself in spite of problems on global financial markets, adding that the price of natural gas supplied by the energy giant to Europe hit a historical high of USD 500 per 1,000 cubic meters on October 1st. He said that falls in global oil prices that are currently hovering under USD 90 per barrel would not damage Gazprom's pricing policy.”

Mr Miller said "The work of gas sector enterprises is built on different principles and even if something critical happens on oil markets, gas companies always have at least six months to analyze their financial business."

Author: Ksenia Kochneva