Mgk Itera

Founded in 1992, Itera USA is an American company owned by Americans. Originally a commodities trading company, Itera USA was created in the wake of the collapse of the Soviet Union in 1991, when the previous economic ties between former Soviet Republics were broken and the new countries, with a total population of over 250 million people, faced enormous difficulties providing the basic human needs such as food and medicine. Multi-national corporations did not rush to do business with these countries because of their insolvency and the inherent political risks. In this dire situation, Itera created a unique network of barter transactions not only with the governments of the new nations, but also with plants, factories and other commercial entities. In 1994 Itera provided a large shipment of sugar to Turkmenistan. The government "paid" for sugar deliveries by giving Itera rights to natural gas located in Turkmenistan. Itera succeeded in selling the gas to the Ukraine, by reaching agreements with some of the former Soviet republics to permit natural gas pipeline access through those countries. Based on these initial successes, Itera reached an agreement with Turkmenistan for trading its gas to Ukraine, which was handled by Itera Group , with headquarters in Moscow. In the next few years, Itera Group succeeded in expanding its natural gas trading activities to other republics of the Former Soviet Union including Armenia, Georgia, Azerbaijan, Belorussia and the Baltic States. In 1996, Itera became a gas producer by purchasing a number of large gas fields in North Russia, and within a few years became one of the world&s;s largest private natural gas producers and traders. Meanwhile, as the markets for food and other commodities in the former Soviet republics have matured, Itera USA has developed into a U.S.-based - energy and real estate company. Itera USA, directly or indirectly, employs hundreds of people in projects in Florida, Illinois, Louisiana, Pennsylvania, Texas and other states, with its corporate ...