$1 Billion Spent on Gazprom Anniversary Party

$1 Billion Spent on Gazprom Anniversary Party

Published: May 23, 2013 (Issue # 1760)

Gazprom spent more than $1 billion on celebrations to mark the company’s 20th anniversary this year, Interfax reported Thursday.

In February, the Kremlin hosted a gala concert to celebrate the company’s anniversary at a cost of $1.78 million, but company financial statements show that 600 times that amount was spent on one-off payouts to personnel.

Staff at Gazprom received a month’s bonus in honor of the anniversary, costing the company a further $61 million, the report said.

Additional costs could mean that total expenditure on the anniversary could rise over $1 billion.

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