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Gazprom signals US $24.7 bn spend for 2012
Posted 22.12.2011 09:59:15 av John Bradbury
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Gazprom's board of directors has given a green light to a 2012 investment programme totalling a huge RUB 776.648 billion (US $24.725 bn) and Shtokman is among the projects allocated future spending.

In a statement the Russian gas giant signalled that it would be spending 776.648 billion in 2012 and capital investments will account for RUB 709.648 bn ($22.571 bn) of that total, “... of which RUB 709.564 billion [$22.568 bn] and RUB 40 million [$1.272 bn] will be allocated for capital construction and acquisition of non-current assets accordingly. The amount of long-term financial investments will total RUB 67.044 billion [$2.132 bn],” Gazprom stated on its website.

“The long-term financial investment plan for 2012 prioritizes, inter alia, Gazprom's participation in the project for the Shtokman field development as well as the Nord Stream and South Stream gas pipelines construction. In addition, the Company intends to allocate funds for power generation projects,” Gazprom has indicated.

Priority is being given to projects “... that have fundamental significance for attaining the planned levels of gas production and supply as well as for the Russian Federation in general,” Gazprom has stated. As a result 335 of the capital investment will go on gas production facilities and 52% of the capital investment total will go on gas transmissions and underground storage facilities.

Capital construction costs will be allocated to pre-development of five named gas fields  Bovanenkovskoye, Zapolyarnoye, Medvezhye, Urengoyskoye, Yamburgskoye, as well as others.

Gazprom's 2012 spending on gas transmission assets will include five trunklines: Bovanenkovo – Ukhta, Ukhta – Torzhok  Gryazovets to Vyborg, and Pochinki to Gryazovets and an SRTO to Torzhok gas trunkline.

Also Gazprom says funding will be allocated to Russian Far East projects, particularly gas transmission systems connecting Sakhalin, Khabarovsk and Vladivostok, and a gas trunkline from the onshore processing facility at the Kirinskoye gas and condensate field to the Sakhalin main compressor station, while pre-development funding will go to Russia's Kshukskoye, Nizhne-Kvakchikskoye and Kirinskoye fields.

Pursuant to the document, funds will also be channelled for upgrading the major gas production and transmission assets, re-equipping underground gas storage facilities, constructing and retrofitting gas processing capacities as well as performing survey, geological exploration and production drilling in fields.

Some of the spending – no figures are specified in the statement – will also go on a Russian government approved programme for constructing Olympic venues and development of the city of Sochi as a mountain resort. Other money will go into creating industry-specific integrated information and management systems.

And other projects in Africa, Bolivia, the UK, the Republic of Vietnam, Latin America and Uzbekistan will also be financed, the Russian major said.

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