OREANDA-NEWS. August 31, 2007. The Gazprom Headquarters has hosted a session of the Working Group for Gazprom intra-corporate governance structure improvement led by Alexander Ananenkov, Head of the Working Group and Acting Chairman of the Gazprom Management Committee.

The meeting examined the progress with stage two of the reorganization of the existing subsidiaries.

The meeting specified that at present Gazprom was conducting comprehensive work to consolidate Gazprom UGS, Gazprompodzemremont-North, Gazprompodzemremont-South, Gazprompererabotka, core business activities and assets unbundled earlier from the existing gas transportation and processing companies (donor companies) into core business legal entities (buffer companies).

The consolidation process implies reorganization of the relevant buffer companies in the form of merger with Gazprom UGS, Gazprompodzemremont-North, Gazprompodzemremont-South, and Gazprompererabotka.

The participants discussed issues related to utilization of a single corporate style in the business names of both the existing and new subsidiaries set up in the frames of Gazprom intra-corporate governance structure improvement as well as to reorganization of Gazprom security services and its subsidiaries.