Gazprom is ready to independently implement projects on gas supplies to China

LONDON, 4 February. Gazprom is ready to independently implement projects on gas supplies to China, without the involvement of Chinese Finance, said at investor Day, the Deputy head of the holding Alexander Medvedev.

“As for our cooperation with China, the Chinese side expressed the desire to participate in our projects in Russia. As at the time expressed the desire to participate in projects on the Chinese territory – the project West-East, but “Gazprom” principle in the field of mining and exploration is very simple, and it is possible only on the basis of the exchange assets,” he said. – As for our projects to supply gas to China, despite the difficult economic conditions (Gazprom) able to implement this project without the involvement of the Chinese party and any other party at any stage”.

The adjustment of the budget

Speaking about financial situation, Shatalov noted that “Gazprom” in two months to discuss the adjustment of the budget of the company.

“We have an approved budget and we will consider to the Board of Directors in the next couple of months, when clear trends of the year and better prognostic indicators,” he said, adding that it is necessary to take into account that there is the possibility of optimizing costs.

According to the top Manager, the company has different scenarios and are ready for any development of the economic situation.
“Another thing is that, speaking about some of the tools may be the presence of negative cash flow, all the tools possible. We for a long time conduct a balanced policy. In some periods possibly lower prices, we will use either our financial cushion by the group, or to look at options for borrowing,” said Shatalov.