Gazprom Plans $17.6B of Investments in 2024

Russia’s Gazprom PJSC plans to invest $17.6 billion (RUB 1,573.627 billion) in projects next year.
The company’s management committee reviewed the preliminary operating results for 2023 and the projected investment program and budget for 2025-2026, the company said in a media release.
The committee endorsed the drafts of the investment program and financial plan for 2024, Gazprom said.
The endorsed financial plan will provide for full coverage of the company’s liabilities without a deficit. Decisions on debt financing under the company’s borrowing program will be made on the basis of market conditions, liquidity and Gazprom’s financing needs, the company said.
Gazprom added that the information about its preliminary operating results for 2023, the drafts of the company’s investment program and budget for 2024, and the projected investment program and budget for 2025–2026 will be submitted for consideration by the Gazprom board of directors.
Gazprom’s investment program for 2024 includes financing for top-priority projects, such as further development of the gas production centers in the Yamal Peninsula and eastern Russia, the Power of Siberia gas trunkline, Gazprom’s gas processing complex, and the gas infrastructure expansion in Russian regions, as well as projects securing gas balance in peak periods.
Near the end of October, the company said it is currently performing the updated 2021–2025 programs for gas supply and gas infrastructure expansion in 72 constituent entities of the Russian Federation. As a result of the implementation of the five-year programs, the residents of over 977,000 households and apartments in 5,700 localities will for the first time ever gain access to network gas. A total of 4,700 boiler houses will be able to run on gas, it said.
Currently, the Power of Siberia gas pipeline is being expanded, specifically, loopings are being built and compressor capacities are being increased. Gazprom also continues to enhance the Sakhalin-Khabarovsk-Vladivostok gas pipeline’s capacity. The pipeline’s throughput is being increased, inter alia, to meet the growing demand for gas in the Khabarovsk and Primorye territories, Gazprom said.

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