23.11.2017
Gazprom Management Committee approves investment program and budget for 2018
The Gazprom Management Committee took note of the information about the Company's preliminary operating results for 2017 and the projected investment program and budget (financial plan) for 2019-2020.
The Management Committee also approved the Company's draft investment program and budget (financial plan) for 2018.
Pursuant to Gazprom's draft investment program for 2018, the overall amount of investments will stand at RUB 1,278.830 billion, with RUB 798.428 billion intended for capital investments, RUB 40.983 billion for the acquisition of non-current assets, and RUB 439.419 billion for long-term financial investments.
In line with Gazprom's draft budget (financial plan), the external financial borrowings will total RUB 416.971 billion. The approved financial plan will provide for a full coverage of the Company's liabilities without a deficit.
The information about Gazprom's preliminary operating results for 2017, the drafts of the Company's investment program and budget (financial plan) for 2018, and the projected investment program and budget (financial plan) for 2019-2020 will be submitted to the Gazprom Board of Directors.
Background
Gazprom's investment program for 2018 covers all of the Company's strategically important projects, including the pre-development of the Chayandinskoye field, the construction of the Amur Gas Processing Plant, the Power of Siberia, TurkStream and Nord Stream 2 gas transmission projects, the development of the gas transmission system in northwestern Russia, and the projects securing gas supplies during peak loads in the midterm.
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