Unicom Partner’s Asset Management Director Vitaliy Kalugin says Maxi Group won’t get Gazprom to supply natural gas

26 July 2007 (14:34)

‘I don’t think Maxi Group is going to reach an agreement with Gazprom in terms of the natural gas supplies they need,’ Unicom Partner Universal Investment Company Asset Management Director Vitaliy Kalugin said to UrBC.

Gazprom’s refusal to provide Maxi Group with natural gas was discussed at a meeting chaired by Governor of Sverdlovsk Region Eduard Rossel.

‘Even if they do reach an agreement after all, one should bear in mind that the prices are expected to double by 2012. Coincidentally, it is in 2012 when the arc-furnace plant Maxi Group is currently constructing is going to reach its full capacity and start paying off. Hitting the company’s margins trough increased prices at such a moment can be compared with pranging an airplane when it’s just taking off,’ Mr. Kalugin says.

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