Gazprom boosts investment program
Russian energy giant Gazprom is this year to spend a total of 905 billion RUB on its investment program, an increase of 103 billion RUB from the previous plan.
Gazprom’s Board of Directors today approved the company’s budget, investment plan and spending optimization plan, a press release reads.
Of the 905.23 billion RUB, a total of 751.83 billion will be capital investments, which is an increase of 88.23 billion from the investment program approved in November 2009.
The company’s 2010 budget has a frame of 3.64 billion RUB and a surplus of 0.5 billion RUB.
According to the company, the Bovanenkovo field in Yamal and the Shtokman field in the Barents Sea remain the top priority projects. Also several other projects, most of them in Western Siberia, will be given priority.
With regard to transportation projects, the construction of the Bovanenkovo-Ukhta pipeline, the Gryazovets-Vyborg and the Pochinki-Gryazovets pipelines remain priorities along with the Zapolyarnoe-Urengoy and the Dzhubra-Lazarevskoe-Sochi pipelines.
