Company news in April 2004 | |||
Irkutsk-Based Power Companies to Deal with Gas
The first meeting of the Board of Directors of East Siberian Gas Company (ESGC) established by TNK-BP and the regional administration took place in Irkutsk. The Board of Directors approved of the program to gasify the Irkutsk Region worth of over US$ 600 million. The company has the capital stock of US$ 1 million now, and the project''s fate will be finally resolved during TNK-BP''s and Gazprom''s negotiations on the Kovykta deposit. The Irkutsk Region Governor Boris Govorin and Mr. Victor Vekselberg, TNK-BP''s Managing Director, Production and Technologies, concluded the agreement to create ESGC on March 4. Its founders became the regional administration and TNK-BP that put up RUR 15 million each to the capital stock (the capital stock is equal to US$ 1.1 million). On April 6, the first meeting of ESGC''s Board of Directors was held. The meeting approved of the joint-stock company''s management structure, told Mr. Sobol to Kommersant. It was mostly shaped out of managers who used to work in business entities headed by Victor Vekselberg, and of shareholders of SUAL JSC. For instance, Mr. Sergey Guseevskiy who used to work with Renova CJSC and Comprehensive Power Systems CJSC (KES) became Deputy General Manager of ESGC CJSC; Mr. Alexander Paramoshkov who has experience with KES, too, heads the Comprehensive Law Service. Mr. Tigran Tagvorian, former Head of the Department for Gas and Power Projects at KES, will head the Commercial Service. According to Mr. Alexey Sobol, "TNK-BP''s investments will suffice at the initial work stage." Unofficially, however, the company does not hide it that deliverables of TNK-BP''s and Gazprom''s negotiations on the Kovykta deposit''s ''fate'' will influence the project.
Source: Kommersant