- The revision of investments in 2022 is related to the increase in investments for development of gas production centers in Yamal and Eastern Russia and for expansion of Power of Siberia gas pipeline capacity
According to TASS, Russia's state-owned news agency article published on October 19, 2022, the Board of Directors of Gazprom approved new revisions of the investment program and the budget for 2022, the Russian gas holding said on Tuesday.
"In accordance with the restated investment program, total investments to be utilized will amount to 1,979.748 bln rubles ($31.8 bln) - 222.061 bln rubles ($3.6 bln) more in comparison with the initial program approved in December 2021. In particular, capital expenses - 1,746.35 bln rubles ($28 bln) (the increase by 319.12 bln rubles ($5.1 bln)), expenses for acquisition of non-current assets into ownership - 109.564 bln rubles ($1.76 bln) (growth by 32.539 bln rubles ($522.7 mln)). The amount of long-term financial investments - 123.835 bln rubles ($2 bln) (reduction by 129.598 bln rubles ($2.1 bln))," the company said.
The revision of investments in 2022 is related to the increase in investments for development of gas production centers in Yamal and Eastern Russia and for expansion of Power of Siberia gas pipeline capacity.
