Russia's Gazprom Approves Record $233Bln Investment Program For 2023

MOSCOW (UrduPoint News / Sputnik - 21st December, 2022) The board of directors of the Russian gas giant Gazprom approved on Tuesday a record 2.3 trillion rubles ($233 billion) investment program and the company's budget for 2023.

"The Board of Directors approved an investment program and budget for 2023... The total amount of funding for the investment program is 2.3 trillion rubles," the company wrote on its Telegram channel.

The figures have not changed compared with the preliminary plan agreed in November, according to Gazprom.

The investment program provides for funds necessary for prioritized development projects, including deposits in Yamal, Yakutsk and Irkutsk, the Power of Siberia gas pipeline, the Gazprom gas processing complex, as well as initiatives that ensure the peak balance of gas, the company specified.

The budget will cover all liabilities without deficit, according to Gazprom.�

The investment program for 2022 has amounted to almost two trillion rubles, which is 222 billion more than in the plan agreed in late 2021. The investment program for 2021 reached 1.2 trillion rubles.