OREANDA-NEWS. September 04, 2009. The Gazprom Management Committee approved the adjusted draft versions of the Company’s Investment Program and Budget (Financial Plan) for 2009.

The draft versions of the above mentioned documents will be submitted to the Board of Directors for endorsement.

According to the draft version of the Investment Program, the total amount of investments will make up RUB 761.53 billion, which is a RUB 158.91 billion decrease if compared to the Investment Program approved in December 2008. Meanwhile, the adjusted amount of capital investments will make up RUB 488.25 billion (a RUB 211.63 billion decrease if compared to the Investment Program approved in December 2008), long-term financial investments will account for RUB 273.28 billion (a RUB 52.72 billion increase if compared to the Investment Program approved in December 2008).

The adjusted draft version of the 2009 Budget provides for a RUB 407.9 billion decrease in the total amount of cash income and revenues down to RUB 3.3 trillion; and a RUB 126.8 billion decrease in liabilities, expenditures and investments down to RUB 3.68 trillion. According to the adjusted draft version of the Budget, financial borrowings will grow by RUB 214.9 billion up to RUB 304.9 billion. A rise in the borrowings amount is caused, in particular, by the necessity to exercise the option to acquire a 20 per cent stake in Gazprom neft.