Gazprom projects viable despite economy

Published: Dec. 3, 2008 at 3:01 PM
Order reprints
MOSCOW, Dec. 3 (UPI) -- Russian leaders, including Finance Minister Alexei Kudrin, said large-scale projects for energy giant Gazprom are moving ahead despite the economic downturn.

Russian First Deputy Prime Ministers Igor Shuvalov and Viktor Zubkov, along with Kudrin, met to discuss the outlook for Gazprom in terms of its position in foreign markets and planned investment projects, the Russian news agency ITAR-TASS said.

Gazprom and other Russian oil majors in October lobbied for billions in government-backed loans to refinance outstanding debts. Alexei Miller, the head of Gazprom, said, meanwhile, the future outlook for the company was positive because of high export prices and an increased presence in European markets.

The Russian leaders said they may need to restructure their finances, however, as world energy prices continue to drop, but maintained a positive stance.

"While discussing the foreign economic environment, the participants in the conference stressed that Russia was and will be a reliable energy partner," the officials said in a statement.


© 2008 United Press International, Inc. All Rights Reserved.


Oh baby, check out the gourmet grub! (5 min)
Serious British offenders at large (6 min)
Multi-state outbreak of Swift beef E. coli (9 min)
Police: McNair friend recently bought gun (13 min)
Ginepri, Amritraj win; Becker loses (15 min)
Michigan man pleads guilty to 'Net fraud (17 min)
Bird-nappers target valuable budgies (28 min)
Photoshop this air compressor
Wallet stolen in 1982 found inside a tree with everything but a $20 bill still inside. In other...
You know how they're always telling you how a "tiger can't change his stripes"? Well, they're full...
You want to know why there haven't been 40 threads about the pro-democracy riots in China? Because...
Woman found dead in her backyard fish pond. Police are being koi about possible suspects
3 gunmen, over 100 shots fired, automatic weapons used and about 100 people at the party, yet no...