The Gazprom Management Board approved a record investment program for 2.3 trillion rubles.

The volume of financing of the Gazprom investment program in 2023 may amount to 2.3 trillion rubles, reported company. In 2022, the investment program was planned for the amount of 1.98 trillion rubles, in 2021 a little more than 1 trillion rubles was spent on it.

“The approved financial plan will ensure that PJSC Gazprom’s obligations are covered without a deficit, in full. Decisions on raising borrowed funds under the Borrowing Program are planned to be made based on market conditions, liquidity and PJSC Gazprom’s need for financing,” the statement said.

In July, Russian President Vladimir Putin signed a law that obliges Gazprom to send an additional 1.248 trillion rubles to the country’s budget in the form of a mineral extraction tax (MET). The amount coincides with the amount of dividends that the company refused to pay to shareholders at the end of 2021. Also at the end of September, the Ministry of Finance proposed to collect from Gazprom every month 50 billion rubles. within the framework of the NDPI.

The investment program for 2023 includes funding for the Yamal, Yakutsk and Irkutsk gas production centers, the Power of Siberia gas pipeline, Gazprom’s gas processing complex, and projects that ensure peak gas balance.

November 18 Gazprom Board of Directors increased investment program for 2022 from 1757.69 billion rubles. to a record amount – 1979.75 billion rubles.

The previous maximum of the investment program was in 2018: in the revised version, it amounted to 1.496 trillion rubles.

At the end of August the company announced on record financial performance for the first quarter of 2022. Net profit amounted to 2.5 trillion rubles, the dividend base was 2.4 trillion rubles.

Polina Sobakina