OREANDA-NEWS. The Gazprom Board of Directors has endorsed the updated Gazprom Investment Program and Budget (Financial Plan) for 2006.

Under the updated Investment Program, long-term financial investments have been increased by RUR 85.46 billion to RUR 133.67 billion. Thus, overall investments for 2006 have grown from RUR 373.14 billion to RUR 458.6 billion.

Under the updated Budget, overall cash income & revenues (taking into consideration the account balance as of the start of the reporting period) will amount to RUR 2 trillion 228 billion, RUR 17.21 billion up on the Financial Plan approved in September 2006.

Total cash liabilities, expenditures and investments will make up RUR 2 trillion 343 billion, RUR 45.27 billion up on the Financial Plan endorsed in September 2006. Financial borrowings have been increased by RUR 28.91 billion to RUR 118.91 billion.

The Investment Program and Budget have been updated due to OAO Gazprom’s acquisition of the shares in OAO NOVATEK and OAO Mosenergo from ZGG GmbH and Non-State Pension Fund Gazfond, respectively.