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Gold/Mining/Energy : Gazprom
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To: Copperfield who started this subject6/22/2004 1:27:16 PM
From: Copperfield   of 45
 
GAZPROM PROPHESIES LARGE ECONOMIC EFFECT FROM COMPETITION PROCEDURES

MOSCOW, JUNE 22 (RIA Novosti) - The Russian gas giant Gazprom predicts a 7- to 11-percent economic effect (smaller cost of a project or work in comparison with the designing estimates) from the introduction of competition procedures in getting work and services in three years to come, Gazprom deputy chairman of the board Alexander Ananenkov told journalists on Tuesday.

Such saving of funds is expected from the volume of financing of 90 billion roubles (1 dollar approximately equals 29 roubles) annually.

In 2004 the volume of tenders-based purchases will stand at 20 percent of the volume of financing and the economic effect at 1.565 billion roubles (1.75 percent). In 2005 the volume of tenders-based purchases will increase to 50 percent and the economic effect to 3.7 billion roubles (4.1 percent). In 2006 up to 80 percent of the purchases will base on competition and the economic effect will be 5.94 billion roubles (6.6 percent).

Throughout 2003, Gazprom's tender committee held 15 competitions for building and assembly work, materials and equipment supplies. On an average, 5.4 applications from potential competitors were filed. The share of open competitions was 13.3 percent of the total. Gazprom gained a 3.3-percent economic effect.
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