Gazprom to show govt 2014 capex growth just below inflation
MOSCOW. Dec 17 (Interfax) - Russian Prime Minister Dmitry Medvedev will hold a meeting at his residence in Gorki on Tuesday on to discuss Gazprom's budget for 2014 and the next three years.
The Gazprom board of directors will meet afterwards to approve the document.
The Cabinet's press office disclosed one of the investment program's parameters, which is 698.21 billion rubles in capex. Usually, Gazprom's investment program usually comprises capex and financial investment, but in this case the 2014 investment, which Interfax's sources have said will be 806 billion rubles, is not mentioned.
The 698 billion rubles capex for 2014 is 6% above the originally planned 2013 figure of 658 billion rubles and rises just under the level of inflation. True, the 2013 capex was later increased by 19%, but there were objective reasons for this in a favorable external situation.
The overall investment program, if this will be 806 billion rubles, will grow more substantially, by 14% from 705 billion rubles.
The press statement also disclosed the cost of continuing to equip the Bovanenkovo gas condensate field on the Yamal Peninsula, which is 53.7 billion rubles in 2014, compared with 60.57 billion rubles as per the original 2013 investment program. The company did not previously disclose expenditure on this project the annual review.
