OREANDA-NEWS. November 25, 2009. The Board of Directors took notice of the information on the Company’s preliminary operating results in 2009. 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.

The Board of Directors decided to accept the Gazprom Investment Program, Budget (Financial Plan) and Cost Optimization (Reduction) Program for 2010 and provide these documents to the Russian Federation Government for consideration.

According to the Investment Program, the total amount of investments in 2010 will make up RUB 802.4 billion, capital investments – RUB 663.56 billion, long-term financial investments – RUB 138.84 billion.

The Budget for 2010 provides for the total amount of cash income and revenues at RUB 3.79 trillion; liabilities, expenditures and investments – RUB 3.88 trillion. The amount of financial borrowings will total RUB 90 billion. The Budget surplus will account for RUB 0.5 billion.

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

The Gazprom Board of Directors reviewed the outlook for the Company’s 2011–2012 Investment Program, Budget (Financial Plan) and Cost Optimization (Reduction) Program.

Viktor Zubkov, Chairman of the Board of Directors, noted that “undoubtedly, Gazprom will execute its investment programs for 2010, 2011 and 2012 and this will secure reliable fulfillment of the Company’s obligations before consumers both domestically and abroad”.