Gazprom prepares its 2004 investment program

A. Miller, Chairman, Management Committee, Gazprom, signed Gazprom 2004 investment program drafting measures plan. The document regulates investment program drafting measures and their implementation deadlines.

The main outlines of the plan include:

• 2004 Gazprom new production facilities operation placement requirements’ estimates;
• 2004 Gazprom investment program project;
• 2004 investment requirements;
• 2004 investment program financing sources and financial condition evaluation. Estimates of the influence of the investment program on natural gas tariffs and Gazprom’s 2004 budget;
• Gazprom 2004 investment program preparation, including plans for infrastructure construction and long-term investments, pending approval from the Ministry of Economic Development and Trade of the Russian Federation.

A. Miller, Chairman of Gazprom Management Committee, emphasized: “Defining the 2004 investment program drafting measures schedule today, our goal is to optimize the company’s efforts and expenses in industrial production. Our calculations in terms of the increase of natural gas tariffs for industrial enterprises are especially important”.

Information Directorate, OAO Gazprom