The Gazprom board in its meeting today left the company 2009 budget with a spending frame of 3,8 trillion RUB. Revenues are estimated to 3,72 trillion RUB. The company’s investment programme will have a frame of 920,44 billion RUB, the lion’s share of which is planned spent on the development of the Bovanenkovo field in Yamal and the Shtokman project in the Barents Sea.
The company intends however to save 11 billion RUB on a programme on “optimized” spending, a press release from the company reads.
The company board also proposes a stricter ranking of projects in the investment programme, as well as cuts in the projected long-term financial investments.
At the same time, the board members approved a proposal from the Ministry of Economic Development on cuts in equipment acquisitions from abroad. According to the proposal, all foreign offers in contract tenders will be added a 15 percent price increase. In addition, the foreign companies will not be allowed to sell their goods to Gazprom unless their prices are at least 15 percent below the price settled by Gazprom.
In cases when the offers of a Russian and a foreign company coincide, Gazprom will be committed to choose the domestic producer. Gazprom will also not be taking into consideration offers where the country of the manufacture is not clear.
The rule will have effect until 2011, a press release confirms.
