Gazprom Board approves 2015 budget
Considering the company鈥檚 preliminary operating results for 2014, projected听Investment Program, Budget (Financial Plan) and Cost Optimisation (Reduction) Program for 2016 -2017, the Board of听Directors approved Gazprom鈥檚 Investment Program, Budget (Financial Plan) and Cost Optimisation (Reduction) Program for 2015.
The key performance indicators of听the Investment Program grew by听RUB1.11 billion against the version approved by听the Gazprom Management Committee this November.
RUB107.22 billion in long-term financial investments
Pursuant to听the Investment Program for 2015, the total amount of听investments will make up听RUB840.35 billion. At听the same time, the amount of听capital investments will account for RUB733.13 billion, of听which RUB733.09 billion and RUB0.033 billion will be听allocated for capital construction and acquisition of听non-current assets accordingly. The amount of听long-term financial investments will total RUB107.22 billion.
According to听the approved budget for 2015, gains from operating and investment activities will total RUB5.887 trillion, while the amount of听payments in听all activities听鈥撎齊UB5.978 trillion. The external financial borrowings will stand at听RUB90听billion. The budget surplus (taking into account intragroup borrowings and beginning balances on听Gazprom鈥檚 accounts as听of听early 2015) will account for RUB0.5 billion.
Altai project
Taking into account the agreement with CNPC on听gas supply to听China via the western route, the budget covers the expenditures on听pre-investment studies for the听Altai听project.
The Cost Optimisation (Reduction) Program for 2015 envisages measures aimed at听cost optimisation (reduction) to听result in听a听cumulative effect of听RUB13.1 billion.
听
Adapted from press release by
Read the article online at: /contracts-and-tenders/02012015/gazprom-board-approves-2015-budget/
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