LONDON: Gazprom, the Russia based global energy company, has announced that overall amount of investments will be RUB 1.104 trillion for 2020, including RUB 933.403 billion for capital investments, RUB 89.972 billion allocated for the acquisition of non-current assets, and RUB 81.349 billion assigned for long-term financial investments.
The Gazprom Management Committee took note of the Company’s preliminary operating results for 2019 and the projected investment program and budget (financial plan) for 2021-2022.
The Management Committee also endorsed the drafts of the investment program and budget (financial plan) for 2020.
Pursuant to the draft budget (financial plan) of Gazprom for 2020, the financial borrowings (without intra-Group borrowings) will total RUB 557.769 billion. This financial plan will provide for a full coverage of the Company’s liabilities without a deficit.
Decisions on debt financing under the Borrowing Program will be made on the basis of the market conditions, liquidity and Gazprom’s financing needs.
The information on Gazprom’s preliminary operating results for 2019, the drafts of the Company’s investment program and budget (financial plan) for 2020, and the projected investment program and budget (financial plan) for 2021-2022 will be submitted for consideration by the Gazprom Board of Directors.
The main investments under Gazprom’s investment program for 2020 cover the Company’s priority projects of strategic importance, 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, further construction of the Power of Siberia gas pipeline, and projects securing gas balance in peak periods.