OREANDA-NEWS. The Board of Directors of OJSC “Gazprom” heard a report on the condition of the Gazprom commodity risk management and monitoring system and the progress with the work aimed at improving it.

The Management Committee was entrusted with further shaping the corporate risk management system.

The present-day activities in this area have enabled to either eliminate or substantially reduce a number of large commodity risks, with, inter alia, the natural gas payment discipline practically restored, a considerable portion of old debts recovered, a transition to market based gas prices for the CIS and Baltic States being effectuated and gas export routes being diversified.

A significant increase of proceeds from gas supply both to the internal and external markets has pointed, amongst other things, to the said work efficiency.