MOSCOW -- (Marketwire) -- 03/18/13 -- ITERA International Group of Companies has accepted many honors and awards over the course of its 20-year existence -- but not all of those distinctions pertain to ITERA's natural gas services, or even to its humanitarian work. Recently, ITERA President Igor Makarov was given a high honor by Grand Sport magazine, which cited him for his tireless work on behalf of the Russian cycling program. The Grand Sport award recognized Makarov for his "protection of Russian sports interests on the international stage," and was presented to him inside the office of the Russian Cycling Federation -- which is, itself, based within the headquarters of ITERA.
The honor was bestowed upon Makarov on the eve of the new Russian cycling season, and on the heels of a major appeals victory, in which Makrov helped Russia's Katusha cycling team receive re-instated credentials for the 2013 World Tour. The Katusha Team had its international license revoked in 2012, but Makarov led an appeal to have international sports authority renew Katusha's rights to compete on the global stage. Makarov's ultimate victory in the appeals process is one of many factors leading to his receipt of the Grand Sport award.
Speaking with reporters after receiving the award, the ITERA president noted that his plans for the Russian cycling program are far from over. One of his greatest ambitions is to construct a world-class velodrome at the site of the 2014 Winter Olympics, in Sochi, Russia. In addition, Makarov is seeking to orchestrate a national cycling tour, in which Russia's premier cyclists will promote the sport all over the country -- concluding the tour with a grand celebration in Red Square.
In addition to serving as the President of ITERA International Group of Companies, Makarov is also the President of the Russian Cycling Federation, and a tireless advocate of the nation's international cycling program. ITERA International Group of Companies is one of Russia's foremost natural gas and utility companies, and it is also active in land acquisition and energy production around the world.
ITERA International Group of Companies is a vertically integrated corporation founded in 1992, with dozens of enterprises in the NIS, Baltic States, Western Europe, Asia, and the United States. Since 1994, ITERA's main business activity has been natural gas. Starting in 1998, ITERA Oil and Gas Company, within the ITERA International Group of Companies, has been expanding its own gas production in the Yamal-Nenets region of Russia and has invested over $2 billion into infrastructure. Overall, over 250 billion cubic meters of gas were produced at ITERA's gas fields. The total volume of gas sold by ITERA has surpassed 600 billion cubic meters. ITERA's strategic business developments are also reaching into development, biochemical, and power generating segments.
The American division of the company, ITERA USA, was founded in 1992. In addition to their work in the energy industry, ITERA USA has also found success in timber, real estate, and more. Itera always welcomes new ideas, and strives to build bridges between peoples and cultures through the implementation of quality energy solutions.
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