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Gazprom's Substitution Program
February 24, 2015 18:24


“Gazprom” intends to refuse from the procurement of products in the countries that have joined the sanctions against Russia within the frame of the import substitution program, according to “Vedomosti”.

The Board of Directors of “Gazprom” made an amendment to the provision on procurements involving acquisition of mostly domestic equipment, except for the cases of lack of Russian analogues. We are speaking about metal and machine-building products, including special equipment.

The substitution list includes 410 foreign suppliers from 20 countries, a quarter of them falling to the companies from the United States, Germany, France, UK and Japan. The source of the edition explained that the import substitution program of “Gazprom’ is designed for substitution of the products by the manufacturers from the countries that have introduced or supported sanctions against Russia.

However, the list also includes Belarusian, Israeli, Indian and Ukrainian companies. Every year “Gazprom” spends about 154 billion roubles ($ 2.5 billion), or about 21 percent of the capital cost of the company, on foreign currency purchases, according to the edition’s calculations. In February “Gazprom” announced the formation of the new Department of Technical Policy which will deal with import substitution.

The new department is headed by Pavel Krylov and supervised by the deputy chairman of the Management Board Vitaly Markelov. At the end of January it was disclosed that the European Union was discussing the possibility of banning export of to some types of equipment to Russia, including equipment for gas industry. Besides, this ban on the supply of the equipment for the industry could be introduced even despite Europe’s dependence on Russian fuel supplies.

Previously the EU imposed restrictions on exports of equipment and technologies for the works on the Arctic shelf and production of shale oil to Russia (some kinds of pipes, drilling equipment, support vessels, drilling platforms, oil pumps), which almost did not affect the gas industry.

Author: Anna Dorozhkina

Tags: Gazprom Russian oil    

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