Chairman and Deputy Chairman of the TGC-1 Board of Director were elected

12.07.2011

On July, 11th, 2011 the first session of the Board of Directors of JSC TGC-1 was held the new membership which was elected by General Shareholders Meeting of the Company on June, 27th, 2011.

Kirill Seleznev, the Board member, the Head of Gas and Liquid Hydrocarbons Processing and Marketing of JSC Gazprom was elected the Chairman of the Board of Directors; Denis Fedorov, the General Director of Gazprom Energoholding LLC, and Alexander Chuvaev, the President of division Rossiya of Fortum Corporation, were elected as Deputy Chairmen of the Board of Directors.

The Board of Directors confirmed the adjustment of the investment program of the Company for 2011 at a rate of 2.3 bln RUB. Investments within the project of expansion of Pravoberezhnaya CHPP amounted to 2.2 bln RUB. Besides, the Board of Directors integrated into financing plan of the Company for 2011 the project development of connection of Vasileostrovskaya, Central and Vyborgskaya CHPPs to municipal water supply networks of SUE Vodokanal. Besides other, the budget 2011 provides 34 mn RUB in addition for projects of reliability and safety improvement of TGC -1 facilities. It is planned to direct 19.2 bln RUB in total on realization of the investment program in 2011.