Gazprom Board of Directors approves investment program and budget for 2018

RELEASE

The Gazprom Board of Directors 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 Board of Directors also approved the Company’s investment program and budget (financial plan) for 2018. The key figures of the investment program did not change compared to the version approved by the Gazprom Management Committee in November this year.

Pursuant to Gazprom’s 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 the Company’s approved budget (financial plan) for 2018, the external financial borrowings will total RUB 416.971 billion. The adopted financial plan will provide for a full coverage of Gazprom’s liabilities without a deficit.

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 SiberiaTurkStream 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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