OREANDA-NEWS. June 1, 2007. GAZEKS (part of Integrated Energy Systems) management announced at a briefing for journalists in Moscow company's operating results for 2006 and plans for 2007.

GAZEKS Director General Andrei PESTOV pointed out a significant growth in the company's performance results, both in terms of absolute figures and quality. Thus, last year revenue reached 10,175.01 mln rubles (2,877.34 mln rubles - in 2005); gas transportation volumes reached 27,571 mln cubic meters, (13,843.16 mln cubic meters in 2005); natural gas sales volumes - 2,945.08 mln cubic meters (348.7 mln cubic meters in 2005); liquefied gas sales volumes - 150,941.32 metric tons (86,314.16 in 2005). Currently in the regions of its operation in Russia and Ukraine company supplies natural and liquefied gas to more than 20 thousands industrial enterprises and 4 mln retail customers.

GAZEKS' short-term priorities include, in particular, a program to develop a decentralized heat supply to the regions, development of local thermal power sources, construction of new and modernization of existing gas-supply facilities, improvement of service quality, reliability and safety. For that purpose GAZEKS has developed and is already implementing an investment program, under which more than 100 mln USD will be raised by 2009, both from company's own funds and attracted through the cooperation with Russian and foreign banks.

During the meeting GAZEKS' management expressed company's attitude to the most pressing issues related to gas market development in Russia. Participants emphasized the urgent necessity to change the existing model of tariff formation, which in the current conditions as gasification projects are being implemented leads to an uncontrollable tariff growth. The aim of proposed changes is to create a system of tariff management, which will include limitation of tariff growth in process of gas grids development and investment projects.

In the opinion of GAZEKS' management, not only the territorial expansion of the company but mostly the implementation on new methods, management standards and quality of service contribute to progressive development of GAZEKS' business. "We are a consumer-oriented company. Implementation of new technologies, standardization and automation - are keystones of our success. In order to further improve a quality of service, company takes on creating a network of service centers to work with retail customers".