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Friday, February 13, 2009

Gazprom puts projects on back burner

02-10-2009 - Upstream OnLine - Russian gas export monopoly Gazprom may delay some projects in response to weaker demand for gas and the tougher financial climate, the company's chief financial officer said today. "We have also been prioritising projects in our investment programme ... and this will allow us to see which projects will be financed and which projects are going ahead," Andrey Kruglov said, speaking through an interpreter, wrote Rueters. Kruglov said the company was engaged in a cost cutting drive.

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