Source Pravda.Ru

Gazprom to invest $5.91bn next year

Gazprom is planning to invest 188.1bn rubles ($5.91bn) in 2003 to ensure its gas production at the planned volume, Deputy Chairman of Gazprom's Executive Board Alexander Ryazanov declared at a meeting of the Federation Council's commission on natural monopolies in Yamburg, Yamalo-Nenets Autonomous Area today. He pointed out that this sum was required to produce 531.7bn cubic meters of gas and 10.4m tons of oil and liquefied gas. He specified that some 71.9bn rubles ($2.26bn) was planned to be invested in gas production, 80.7bn rubles ($2.54bn) in gas transportation, 2.6bn rubles ($81.7m) in gas processing, 4.5bn rubles ($141.42m) in underground storing.

He also noted that investments would be directed to the development of a number of gas fields and modernization of the current system of gas pipelines.

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