Welcome!

News Feed Item

Gennady Timchenko Gives Interview to Russian TV

MOSCOW, April 12, 2014 /PRNewswire/ --



Gennady Timchenko, the founder and beneficial shareholder of Volga Group, has given an exclusive interview to Sergey Brilev on the Russian TV programme "News on Saturday" ("Vesti v subbotu"). During the interview Mr Timchenko commented in detail on a number of topics.

Partnership with China  

  • "Russia's turn towards China is partially due to Europe pushing us away in recent years. By working with Chinese partners, we can also demonstrate to the Europeans that we have new opportunities and promising markets in the Asia-Pacific region."
  • "China is an area where we need to be present. Lots of companies want to supply their products to China. Australia and other countries are building LNG production facilities. We need to keep pace and not hold back on cooperation with China."
  • "We have been working with the Chinese for several years on serious projects including Yamal LNG. This is a highly complex project in economic terms. It is a mark of our success that we have been able to reach agreement with our Chinese partners quickly and bring them on board as shareholders in Yamal LNG. It is important that we keep up the pace and achieve all of the plans we have set out by the start of 2017. Then we will be able to start supplies of LNG to China in 2Q 2017."
  • "Building big businesses such as this one creates large numbers of new jobs in Russia. Businesses also create new tax revenues, which in future will be used to pay public-sector workers and address social issues."
  • "I also have good relationships with European businessmen. It is likely that I will stay on as co-chairman of the Franco-Russian Chamber of Commerce and Industry. I have also received an offer to head a similar Russian-Chinese advisory body, which in all probability I will readily accept."

US sanctions list 

  • "I found out that I had been included on the list from the news. I had assumed that this was a possibility, but still to have it confirmed was slightly unexpected, although something of a badge of honour for me. I think that this is a judgement on my investments in Russia - in the energy and petrochemicals sector, in infrastructure construction and the foodstuffs industry."
  • "Europe has not announced any sanctions against me. However, there have been some complications as a result of the American sanctions, as some banks have started creating difficulties for business. In effect, the American authorities are making life difficult for European banks."
  • "We assumed that this could happen, and took care of our funds held with European banks ahead of time. All of these funds are now in Russia and are being securely held by our Russian banks."
  • "My stake in Gunvor was less than 50%. Essentially I was not obliged to sell the shares, but I did so in order not to create problems for the company, which is growing fast and today is one of the top three energy traders worldwide."

On calls to use the ruble as the settlement currency for Russian exports  

  • "We have examined these proposals and are already in talks with our counterparties, many of whom are prepared to consider the idea. To start with we are talking about switching to settlement in euros, but given that European sanctions remain a possibility we may also use the ruble for settlement, as well as the renminbi for doing business with China. We are ready for this, and it seems that our Chinese partners are also prepared to give the idea serious consideration."

Relations with Europe 

  • "European leaders today have a poor understanding of the global situation and the consequences of meddling in these or those processes. Western media present events in Russia in a thoroughly negative light. Yes, we have problems, and these need to be covered. But the fact remains that there is a propaganda campaign being waged against Russia. And this is disturbing."

Dual citizenship 

  • "I have never concealed my dual citizenship. People involved in state business should probably declare their dual citizenship if they have it. I do not see this as an infringement of any human rights."

About Volga Group 

One of the largest investment groups in Russia, Volga Group has investments in 18 core companies, located mainly in Russia. The three core strategic investment areas are energy, logistics and infrastructure. Volga Group also has investments in the financial services and consumer goods sectors. The Group's largest holdings include Novatek (23%), Sibur (37.3%), Transoil (80%), STG Group (63%).

Website: http://www.volga-resources.com


For media inquiries:

Mr. Anton Kurevin
Communications Director, Volga Advisors
Email: [email protected]
Tel.: +7-495-777-38-98 (extn. 711)

Mr. Stuart Leasor
EM Advisors
Email: [email protected]
Tel.: +44(0)7703-537721

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The best way to leverage your CloudEXPO | DXWorldEXPO presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering CloudEXPO | DXWorldEXPO will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at CloudEXPO. Product announcements during our show provide your company with the most reach through our targeted audienc...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors!
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
IoT is rapidly becoming mainstream as more and more investments are made into the platforms and technology. As this movement continues to expand and gain momentum it creates a massive wall of noise that can be difficult to sift through. Unfortunately, this inevitably makes IoT less approachable for people to get started with and can hamper efforts to integrate this key technology into your own portfolio. There are so many connected products already in place today with many hundreds more on the h...
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smart...
DXWorldEXPO LLC, the producer of the world's most influential technology conferences and trade shows has announced the 22nd International CloudEXPO | DXWorldEXPO "Early Bird Registration" is now open. Register for Full Conference "Gold Pass" ▸ Here (Expo Hall ▸ Here)
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
FinTechs use the cloud to operate at the speed and scale of digital financial activity, but are often hindered by the complexity of managing security and compliance in the cloud. In his session at 20th Cloud Expo, Sesh Murthy, co-founder and CTO of Cloud Raxak, showed how proactive and automated cloud security enables FinTechs to leverage the cloud to achieve their business goals. Through business-driven cloud security, FinTechs can speed time-to-market, diminish risk and costs, maintain continu...
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
The Jevons Paradox suggests that when technological advances increase efficiency of a resource, it results in an overall increase in consumption. Writing on the increased use of coal as a result of technological improvements, 19th-century economist William Stanley Jevons found that these improvements led to the development of new ways to utilize coal. In his session at 19th Cloud Expo, Mark Thiele, Chief Strategy Officer for Apcera, compared the Jevons Paradox to modern-day enterprise IT, examin...
The taxi industry never saw Uber coming. Startups are a threat to incumbents like never before, and a major enabler for startups is that they are instantly “cloud ready.” If innovation moves at the pace of IT, then your company is in trouble. Why? Because your data center will not keep up with frenetic pace AWS, Microsoft and Google are rolling out new capabilities. In his session at 20th Cloud Expo, Don Browning, VP of Cloud Architecture at Turner, posited that disruption is inevitable for comp...
DXWorldEXPO LLC announced today that ICC-USA, a computer systems integrator and server manufacturing company focused on developing products and product appliances, will exhibit at the 22nd International CloudEXPO | DXWorldEXPO. DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City. ICC is a computer systems integrator and server manufacturing company focused on developing products and product appliances to meet a wide range of ...
In his Opening Keynote at 21st Cloud Expo, John Considine, General Manager of IBM Cloud Infrastructure, led attendees through the exciting evolution of the cloud. He looked at this major disruption from the perspective of technology, business models, and what this means for enterprises of all sizes. John Considine is General Manager of Cloud Infrastructure Services at IBM. In that role he is responsible for leading IBM’s public cloud infrastructure including strategy, development, and offering m...
The next XaaS is CICDaaS. Why? Because CICD saves developers a huge amount of time. CD is an especially great option for projects that require multiple and frequent contributions to be integrated. But… securing CICD best practices is an emerging, essential, yet little understood practice for DevOps teams and their Cloud Service Providers. The only way to get CICD to work in a highly secure environment takes collaboration, patience and persistence. Building CICD in the cloud requires rigorous ar...