Gazprom to invest a trillion per year

Gazprom headquarters

Russia’s energy giant Gazprom will over the next three years invest 34 billion USD. Most of it will be in new pipelines and in the development of the Bovanenkovo field in Yamal.


Gazprom’s revised investment programme for the period 2009-2011 will have a frame of more than one billion RUB, Deputy Chairman of the company’s Management Committee, Aleksandr Ananenkov confirms. The higher investments come as the development of the Yamal Peninsula proceeds the company official said, reports with reference to Gazprom this year invests about 850 billion RUB. In 2009, investments will exceed one trillion RUB. 2010 investments will be even bigger, Mr. Ananenkov said to the news agency. About 35 percent of the money will be spent in new pipelines, and another 45 percent in exploration and production.