The Gazprom Board of Directors endorsed the revised investment program and budget (financial plan) of the Company
for 2023.
The overall amount of investments for 2023 will total RUB 1,965.66 billion, which is RUB 334.34 billion less than was envisaged in the initial version of the investment program approved in December 2022.
The adjustments to the investment program for 2023 are related, inter alia, to changes in macroeconomic indicators and the market conditions.
The endorsed financial plan will provide for a full coverage of the Company's liabilities without a deficit. Decisions on debt financing under the Borrowing Program will be made on the basis of the market conditions, liquidity and Gazprom's financing needs.
Background
Gazprom's investment program for 2023 includes financing for top-priority projects, such as further development of the new gas production centers (Yamal, Yakutia and Irkutsk), the Power of Siberia gas trunkline, and Gazprom's gas processing complex, as well as projects securing gas balance in peak periods.
