NoD: Gazprom endorses investment program

The Board of Directors of Gazprom has approved the company's investment program for 2007 in the amount of RUR529.38bn (approx. USD19.93bn). This includes capital investment of RUR360.56bn (approx. USD13.58bn) and long-term financial investment of RUR168.82bn (approx. USD6.36bn). The Board of Directors also took note of the holding's investment program forecast of RUR623.73bn (approx. USD23.48bn) for 2008 and RUR702.95bn (approx. USD26.47bn) for 2009.

Why this is important: Gazprom foresees increasing investment annually (inevitable yet confirmed).