The Gazprom management in mid July approved the revised budget and investment programme. The revisions will now be sent to the company’s Board of Directors for approval, a press release from the company reads.
This year’s capital investments will be increased by 51.8 billion RUB to a total of 531.2 billion RUB, while long-term investments will be increased by 59.7 billion RUB to 290.46 billion, the company confirms.
The bigger investments are believed to enable Gazprom to step up operations both in the Bovanenkovskoe field in the Yamal Peninsula and in the Shtokman field in the Barents Sea, as well as in the Nord Stream pipeline project.
Also infrastructure projects, like the Ob-Bovanenkovskoe railway line are given priority in the investment programme.
Among Gazprom’s other investment priorities are energy asset acquisitions, as well as pipeline construction. A total of 1268 km of new pipelines will be built in the course of the year.
