On November 23, Russian gas monopoly Gazprom said the company’s management committee took note of the information about the group’s preliminary operating results for 2017 and the projected investment programme and budget-financial plan for 2019–2020.

The Management Committee also approved Gazprom’s draft investment programme and budget for 2018.

Pursuant to Gazprom’s draft investment program for 2018, the overall amount of investments will stand at 1,278.830 billion rubles, with 798.428 billion rubles intended for capital investments, 40.983 billion rubles for the acquisition of non-current assets, and 439.419 billion rubles for long-term financial investments, Gazprom said.

In line with Gazprom’s draft budget, the external financial borrowings will total 416.971 billion rubles. The approved financial plan will provide for a full coverage of the company’s liabilities without a deficit.

The information about Gazprom’s preliminary operating results for 2017, the drafts of the Company’s investment programme and budget for 2018, and the projected investment programme and budget for 2019–2020 will be submitted to the Gazprom Board of Directors.

Gazprom’s investment program for 2018 covers all of the company’s strategically important projects, including the pre-development of the Chayandinskoye field, the construction of the Amur Gas Processing Plant, the Power of Siberia, Turkish Stream and Nord Stream-2 gas transmission projects, the development of the gas transmission system in northwestern Russia, and the projects securing gas supplies during peak loads in the midterm.

https://www.neweurope.eu/article/gazprom-approves-investment-programme-budget-2018/

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