Gazprom Management Committee Endorses Revised Investment Program

Source: www.gulfoilandgas.com 9/11/2020, Location: Asia

- Gazprom's overall amount of investments for 2020: RUB 922.489 billion.
- Gazprom's borrowings for 2020: RUB 501.287 billion.
- Final investment program and budget to be approved by Gazprom Board of Directors.

The Gazprom Management Committee endorsed the revised drafts of the investment program and budget (financial plan) for 2020.

As per the revised investment program for 2020, the overall amount of investments will stand at RUB 922.489 billion, which is RUB 182.235 billion less than was envisaged in the investment program approved in December 2019.

Of that amount, RUB 720.674 billion (down by RUB 212.729 billion) is intended for capital construction projects, RUB 105.793 billion (up by RUB 15.821 billion) for the acquisition of non-current assets by Gazprom, and RUB 96.022 billion (up by RUB 14.673 billion) for long-term financial investments.

The adjustments to the investment program for 2020 are related to changes in the external market conditions, including those caused by the pandemic of the new coronavirus infection.

Pursuant to the revised draft budget of Gazprom for 2020, the financial borrowings (without intra-Group borrowings) will total RUB 501.287 billion (a decrease of RUB 56.482 billion). In addition, as a result of cost optimization measures, the operating costs will be reduced by RUB 297.1 billion. This financial plan will provide for a full coverage of the Company's liabilities without a deficit.

The revised drafts of Gazprom's investment program and budget (financial plan) for 2020 will be submitted for consideration by the Gazprom Board of Directors.


United States >>  7/5/2022 - SCF Partners (SCF) and T.D. Williamson, Inc. (TDW) are pleased to announce an investment partnership. SCF, an energy investment firm, has invested...
United Kingdom >>  6/30/2022 - - First concrete project under the strategic partnership that ENGIE and the CMA CGM Group signed in November 2021.
- CMA CGM will acquire a stake...


Bangladesh >>  6/29/2022 - - Bridgin Power is a power generation business which will invest across Southeast Asia in gas-fired power projects, widely recognised as a key catalys...
United States >>  6/29/2022 -  Louisiana Energy Gateway will facilitate delivery of natural gas to Gulf Coast customers including LNG terminals
Low carbon infrastructure w...


United Kingdom >>  6/28/2022 - Specialist well decommissioning services provider Well-Safe Solutions has announced the completion of its third investment round, raising 50 million ...
United States >>  6/28/2022 - Intersect Power, LLC, ("Intersect Power" or the "Company") announced today a $750 million growth equity investment led by TPG Rise Climate, the dedica...




Gulf Oil and Gas
Copyright 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.