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EBC Sitting Opens In Yerevan

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  • EBC Sitting Opens In Yerevan

    EBC SITTING OPENS IN YEREVAN

    news.am
    April 20 2010
    Armenia

    The Working Committee Law, Banking and Finance, European Business
    Congress (EBC), opened its sitting in Yerevan on April 20. The
    subject of the meeting is "Cost management in energy companies:
    post-crisis accents."

    Opening the sitting, Dr. Andrey Kruglov, Committee Chairman and Deputy
    Chairman of the Management Committee, Gazprom OJSC, pointed out that
    the macroeconomic indicators show the financial crisis will soon be
    over, and economic recovery is obvious. As regards the management
    of the Gazprom OJSC in 2009, he stressed that the company reduced
    its investments by 30% amid the crisis, but managed to carry all its
    programs through. He pointed out that Gazprom will continue its cost
    optimization policy.

    Mr. Kruglov explained that the EBC unites many international
    companies. According to him, the EBC holds meetings to establish
    business cooperation and discuss topical problems. "Over the last
    few years the EBC has been a business hang-out in a good sense of the
    word," he said. He stressed the pleasant fact of the EBC's next sitting
    in Yerevan, especially as tit has been organized by the ArmRusgazprom
    CJSC, an integral part of Gazprom. "In the context of energy policy,
    Gazprom-Armenia plays a great role. We have gathered here and, taking
    ArmRusgazprom as an example, demonstrate the successful development of
    an energy company, which turned the region from an energy-dependent
    into an energy-exporting one. ArmRusgazprom is one of the country's
    backbone enterprises," Kruglov said.

    Amid the crisis the parent and subsidiary companies have adjusted their
    investment plans, but they have not changed their energy development
    strategy. "The crisis helped us to brace ourselves up and sort out
    priorities," Kruglov said. He expressed confidence that the tasks will
    be accomplished and stressed that the Gazprom CSJC is not in crisis.
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