24 Nov 2022 13:17

Gazprom's investment program could reach new record of 2.3 trln rubles in 2023

MOSCOW. Nov 24 (Interfax) - The executive board of PJSC Gazprom has proposed allocating 2.3 trillion rubles for the parent company's investment program for 2023, the Russian state-owned gas company said in a press release posted on its website.

"Overall financing will total 2.3 trillion rubles in accordance with the draft investment program for 2023. The approved financial plan will cover Gazprom's obligations in full without a deficit. Decisions on raising funds as per the Borrowing Program are planned to be taken based on market conditions, liquidity, and Gazprom's requirements for financing," according to the press release.

The 2022 investment program in the original version envisaged 1,757.69 billion rubles, and it was increased to 1,979.75 billion rubles following the traditional revision based on the results of the first half of the year.

The 2021 investment program originally envisaged 902 billion rubles, and was then increased to 1,185 billion rubles, and fulfilled at 1,082 billion rubles.

Gazprom's board of directors will further approve the budget.

"Gazprom's investment program for 2023 envisages funds to finance priority projects that include further developing new gas-production centers, such as Yamal, Yakutsk, and Irkutsk; the Power of Siberia gas pipeline, Gazprom's gas-processing complex, as well as projects that deliver peak gas balance," according to the press release.