OREANDA-NEWS. November 13, 2009. The Gazprom Management Committee took into consideration the information on preliminary operating highlights of the Company in 2009 and endorsed the draft Investment Program, Budget (Financial Plan) and Cost Optimization (Reduction) Program of Gazprom for 2010.

The Management Committee also took note of the projected Investment Program, Budget (Financial Plan) and Cost Optimization (Reduction) Program over 2011 to 2012.

The information relevant to the Gazprom preliminary operating highlights over 2009 and draft Investment Program, Budget (Financial Plan) and Cost Optimization (Reduction) Program for 2010, as well as the projected Investment Program, Budget (Financial Plan) and Cost Optimization (Reduction) Program will be submitted for review by the Board of Directors.

It was noted that the implementation of the Gazprom Investment Program, Budget and Cost Optimization (Reduction) Program in 2009 was expected to match the level of the approved parameters.

According to the draft Investment Program for 2010, overall investments will make up RUB 802.4 billion, capital investments – RUB 663.56 billion, long-term financial investments – RUB 138.84 billion.

According to the draft Budget for 2010, total income and revenues will make up RUB 3.79 trillion, liabilities, expenditures and investments – RUB 3.88 trillion. Financial borrowings will total RUB 90 billion. The budget surplus will account for RUB 0.5 billion.

The draft Cost Optimization (Reduction) Program for 2010 provides for the measures aimed at cost optimization (reduction) to result in a cumulative effect of RUB 11.7 billion.