Russia's natural gas monopoly OAO Gazprom (GAZP.RS) will increase its investment program to about 1 trillion rubles ($39.90 billion) in 2009 from RUB850 billion in 2008, news agency Prime-Tass reported Friday, citing Gazprom Deputy CEO Alexander Ananenkov.
The company's investment program will amount to RUB1.3 trillion in 2010 and at least RUB1 trillion in 2011, Ananenkov said.
The increase in investments is linked to the development of deposits on Russia's Yamal Peninsula and the construction of gas transportation facilities there, Ananenkov said.