Gazprom's costs for Bovanenkovo-Ukhta gas pipeline up 80% in 2011
MOSCOW. Oct 24 (Interfax) - Gazprom's costs for the construction of main gas transport facilities in 2011, according to a new version of the Russian gas giant's investment program, increased by 70% on average in comparison with previous calculations, the company said in materials posted on its website.
According to Gazprom's investment program for 2011 (approved in 2010), the company's capex for transportation projects was initially planned at 465.75 billion rubles. Gazprom recently adjusted the investment program and, according to its new calculations, this figure has increased to 782.1 billion rubles.
Gazprom's biggest investment is for the construction of the Bovanenkovo-Ukhta gas pipeline, the costs for this year of which increased from 140.9 billion rubles to 259.9 billion rubles.
The main cost increase for gas pipelines is on line pipe, up 170%, from 61.4 billion rubles 168.6 billion rubles. At the same time, capex for the construction of compressor stations increased from 79.5 billion rubles to 91.4 billion rubles.
Total costs for the system between 2007 and 2015 come to almost 1 trillion rubles (in 2008 prices).
Furthermore, the costs line pipe for the Sakhalin-Khabarovsk-Vladivostok gas pipeline increased from 84 billion rubles to 144.4 billion rubles, for which, Gazprom will pay 70% more (137.4 billion rubles) for line pipe.
Costs for the Ukhta-Torzhok system (first section) increased by 80% to 89.5 billion rubles. Gazprom started to invest in this system in 2010. Total planned expenditures for the construction of this gas pipeline until 2017 comes to 234 billion rubles (in 2009 prices).
The construction of the Gryazovets-Vyborg gas pipeline (first section), which ensures gas supply for the North Stream project, currently requires 25% more funds this year than planned (39.4 billion rubles). Construction of this pipeline should be finished in 2012.
In addition, the investment program has 45.6 billion rubles (in 2009 prices) earmarked for the construction of the second section of the Gryazovets-Vyborg gas pipeline. Gazprom plans to build the pipeline by 2013, spending 10.5 5 billion rubles (in 2009 prices) since 2010.
Gazprom's total investment program for 2011 increased from 816.4 billion rubles from 1.276 trillion rubles. Total capex in the program increased from 727.3 billion rubles to 1.15 trillion rubles.
