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Gazprom announces record 2012 investments

26th March 2012

Gazprom allocates record investments for Russian gasification plans in 2012

Russian energy giant invests in gasification projects

Russian energy giant, Gazprom will invest almost a third more in local gasification projects compared to last year, it announced on 26 March.

A total of RUB 37,660bn will be spent in 2012, covering 69 blocks in the Russian Federation, including Eastern Siberia and the Far East, where the Eastern Gas Program is being implemented. Last year Gazprom allocated RUB 29.070bn.

The Eastern gas program helps integrate gas production, transportation and supply system in Eastern Siberia and the Far East, taking into account potential gas exports to China and other Asia-Pacific countries.

From 2005 to 2011 the total volume of Gazprom investments exceeded RUB 146 billion. This excluded funds allocated for gas laterals and gas distribution stations construction which are an integral part of regions' gasification. Some 1,292 gasification facilities were put into operation; a further 2,524 settlements were connected to gas.

Russia's average gasification level in early 2012 could grow 9 per cent to reach 63.2 per cent, according to preliminary estimates. Almost three quarters of this would take place in cities and towns.

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