The Realm of Large Numbers
GAZPROM Germania belongs to the GAZPROM Group, one of the world’s largest natural gas producers headquartered in Moscow, Russia. As the holding company, GAZPROM Germania is in charge of marketing and selling gas (mainly from Russia) in Germany and Western Europe.
Founded in 1990, GAZPROM Germania today comprises 40 entities, operating internationally in 20 countries in Europe, Asia and North America. They are headquartered in Berlin and employ around 1,200 people.
Head of Treasury, GAZPROM Germania GmbH
Many of the challenges GAZPROM Germania deals with are owed to particularities associated with gas trading. An expected turnover of some EUR 30 billion for 2016 reflects the staggering volume of payments. The gas industry has a monthly “payday,” when energy purchases are settled and the corresponding accounts of all parties involved are reconciled. On these days GAZPROM Germania registers cash flows worth several millions in various currencies. Moreover, GAZPROM Germania has a complex banking landscape and much time and effort is dedicated to relationship management, especially given the political situation in some core markets. In addition, regulatory requirements imposed by banks, as well as sanction screening in connection with foreign trade and payments, are of particular importance to GAZPROM Germania’s treasury.
GAZPROM requires full visibility of payments and liquidity group-wide in order to efficiently manage such large volumes of cash. Introducing the BELLIN treasury management system has enabled the treasury team to achieve constant visibility into their financial status. This allows them to ensure they always have enough cash in the different currencies as well as comprehensive intraday limits. GAZPROM Germania is also actively working towards improving visibility for their banking landscape. To this aim, the treasury team collaborates with two main banks in Germany and another 80-90 banks within the group, allowing Russian subsidiaries to maintain the independence they desire. The secret behind the treasury team’s success: time and patience to drive change, know-how to read and interpret figures, and sensitivity in a business culture shaped by its Russian roots.
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