The Management Board of Gazprom proposes to increase the size of the investment program of the parent company of the holding PJSC Gazprom by 13%, up to 1.98 trillion rubles.
This was reported by the press service of the holding, which traditionally reviews the investment program and budget based on the results of the first half of the year.
The updated version of Gazprom’s investment program assumes that the total investment will be 1,979.75 billion rubles, which is 222.06 billion more than the original program approved at the end of last year.
“Of these, capital investments are 1,746.350 billion rubles. (+319.12 billion rubles), expenses for the acquisition of non-current assets – 109.564 billion rubles. (+32.539 billion rubles). Long-term financial investments – 123.835 billion rubles. (-129.598 billion rubles),” the press release states.
It is explained that the adjustment of the parameters of the investment program is associated primarily with an increase in the volume of investments in the development of gas production centers on the Yamal Peninsula and in the East of Russia (Yakutsk and Irkutsk centers), as well as in the development of the capacities of the Power of Siberia gas pipeline.
The draft budget of the company assumes that the amount of financial borrowings (not including intra-group) will increase by 113.2 billion rubles, up to 386 billion. It is noted that the adopted financial plan will cover the company’s obligations without a deficit.
Famil Sadygov, Deputy Chairman of the Board of Gazprom, noted that the new version of the draft budget reflects a 34% increase in revenues from gas sales compared to the original version. “The decline in exports was completely offset by an increase in the average selling price of gas to non-CIS countries. Income growth, in particular, makes it possible to compensate for the increase in operating expenses related to the increase in MET tax payments in the second half of the year,” the top manager emphasized.
Previously became knownthat the Russian government in the next three years can withdraw from the oil and gas companies of the Russian Federation about 3 trillion rubles. in the form of additional taxes. According to Kommersant, a plan is currently being worked out to raise taxes on the export of gas, oil, coal and fertilizers; it is assumed that the main income will come from the increased export duty on pipeline gas. According to the newspaper, we are talking about introducing a differentiated rate – if the gas price is above $300 per 1,000 cubic meters, the duty will be increased to 50% compared to the current 30%. It is also reported that the government is considering an option to increase the severance tax rate on gas for all producers.