Gazprom board approves 1.6 tln rbl investment program for 2024

MOSCOW, Dec 19 (PRIME) -- The board of directors of Russian gas giant Gazprom has approved a 1.574 trillion ruble investment program for 2024, the company said in a statement on Tuesday on its Telegram channel.

“The board of directors approved the investment program and budget for 2024. The total financing of the investment program is 1,573.627 billion rubles,” the statement read.

According to Deputy CEO Famil Sadygov, Gazprom expects strong financial results for 2023, and the company’s budget for 2024 is moderately conservative and balanced.

Gazprom will pay 2.5 trillion rubles in taxes in 2023, including 600 billion rubles for the mineral extraction tax (MET), Sadygov said.

Gazprom expects EBITDA (earnings before interest, taxes, depreciation, and amortization) for 2023 at about 2.2 trillion rubles, with more than 1 trillion rubles from oil segment, he said. And the volume of free liquidity will exceed 420 billion rubles by the end of 2023, he also said.

The company sees no significant changes of the total debt of the holding company in 2024 comparing with 2023, Sadygov said.

(90.4162 rubles – U.S. $1)

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