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Gazprom Board of Directors Approves Revised Investment Program & Budget for 2019

Source: www.gulfoilandgas.com 10/22/2019, Location: Asia

The Gazprom Board of Directors approved the revised investment program and budget (financial plan) for 2019. The key figures of the investment program did not change compared to the version approved by the Gazprom Management Committee in September this year.

Pursuant to the revised investment program for 2019, the overall amount of investments will stand at RUB 1,322.582 billion, which is RUB 3.142 billion less than was envisaged in the investment program approved in December 2018.

Of that amount, RUB 962.234 billion (down by RUB 0.786 billion) is intended for capital construction, RUB 180.493 billion (up by RUB 28.988 billion) for the acquisition of non-current assets by Gazprom, and RUB 179.856 billion (down by RUB 31.345 billion) for long-term financial investments.

The adjustments to the investment program for 2019 are related to the optimization of the investment project portfolio.

The newly revised and approved budget for 2019 will provide for a full coverage of the Company's liabilities without a deficit.

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