OREANDA-NEWS. The Gazprom Board of Directors endorsed the Investment Program, Budget (Financial Plan) and Cost Optimization (Reduction) Program for 2007.

Under the Investment Program for 2007, total investments are earmarked at RUR 529.38 billion including RUR 360.56 billion as capital investments and RUR 168.82 billion as long-term financial investments.

Under the Investment Program through 2008-2009, total investments will make up RUR 623.73 billion and RUR 702.95 billion, respectively.

At the same time, the capital investments are projected at RUR 513.8 billion and RUR 580.2 billion, respectively and long-term financial investments projected at RUR 109.93 billion and RUR 122.75 billion, respectively.