Gazprom Management Committee approves investment program and budget for 2019
The Gazprom Management Committee took note of the information about the Company’s preliminary operating results for 2018 and the projected investment program and budget (financial plan) for 2020–2021.
The Management Committee also approved the draft investment program and budget (financial plan) for 2019.
Pursuant to the draft investment program for 2019, the overall amount of investments will stand at RUB 1,325.724 billion, with RUB 963.019 billion intended for capital investments, RUB 151.505 billion for the acquisition of non-current assets, and RUB 211.2 billion for long-term financial investments.
In line with Gazprom’s draft budget (financial plan) for 2019, the external financial borrowings will total RUB 297.761 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 2018, the drafts of the Company’s investment program and budget (financial plan) for 2019, and the projected investment program and budget (financial plan) for 2020–2021 will be submitted to the Gazprom Board of Directors.
The main investments under Gazprom’s investment program for 2019 cover all of the Company’s strategically important projects, including the development of the gas production centers in the Yamal Peninsula and eastern Russia, the gas transmission system in the northwest of the country, construction of the Power of Siberia gas pipeline and the second start-up complex of the Sakhalin – Khabarovsk – Vladivostok gas pipeline, and the implementation of the Nord Stream 2 and TurkStream projects.