Gazprom's CEO says net consolidated profit will be $3.3bn in 2002

The net consolidated profit of Gazprom is expected to total RUR105.2bn (around $3.3bn) at the end of 2002, the gas giant's CEO Alexey Miller told reporters today. Gazprom's CEO was quoted as saying the amount of credits the company is planning to take in 2003 will total RUR120bn (around $3.77bn), twice as much as in 2002. At the same time, Gazprom will analyze credit agreements, according to Miller. The company's short-term debts will drop by over 2.5 percent at the end of 2003 as compared to the figure reported in 2002.

Speaking about Gazprom's investment program for 2003, which totals RUR204bn (around $6.41bn), Miller said this program would be implemented in full. As for the company's priorities for 2003, Gazprom's CEO said the company's efforts would be focused not on gas production, but on ensuring the efficiency of gas transportation and the development of the transportation-related infrastructure.

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