OREANDA-NEWS. ITERA took the lead of the Russian fuel and energy companies’ openness rating in January of 2013.

The rating is prepared by the Political and Economic Communications Agency on a monthly basis. Following the results of 2012, the Company won the Company of the Year National Prize in the category of Industry: Fuel and Energy Complex. Financial transparency has been designated as one of the main criteria for a victory in the competition. The Agency experts noted that the Company aspired to improve transparency of not only financial information and information on tenders.

"It is good to know that experts again appreciated the informational openness of ITERA. It is true we try our best to achieve this purpose. For example, an Advisory Board operates in ITERA. It develops recommendations for the Board of Directors and the top management of the Company. The victory is even more pleasant for us, because we shared the first place in the rating with NK Rosneft, our new strategic partner", - Igor Makarov, President of ITERA International Group of Companies, pointed out.

ITERA International Group of Companies was established in 1992. It is a vertically integrated holding company which includes dozens of enterprises and companies in CIS, Baltic countries, Western Europe, Asia and the USA. Gas business has been the core business of ITERA since 1994. ITERA Oil and Gas Company, a Group company, has been developing its own production of gas in the Yamalo-Nenets Autonomous District since 1998. It had invested over USD 2 billion into development of the gas industry. The total of over 250 billion cubic meters of natural gas has been produced in the fields developed by ITERA. The total of about 600 billion cubic meters of natural gas has been sold. Development, gas processing and power generations are among strategic businesses of the Group, too.