August 22, 2008

Gazprom approves USD 28.7 billion investment in 2008

RIA Novosti reported that Gazprom's board of directors approved Thursday an investment program of RUB 710.13 billion (USD 28.75 billion), a budget and an optimization program for 2008.

The project envisions capital investment of RUB 479.42 billion (USD 19.4 billion) and long term financial contributions of RUB 230.71 billion (USD 9.34 billion).

In addition, the optimization program suggests measures aimed at reducing spending by RUB 10.1 billion rubles (USD 409 million).