Russian gas monopoly OAO Gazprom (GAZP.RS) Friday said it has approved a draft investment program, budget and cost reduction program for 2009.
State-controlled Gazprom said the investment program envisages total investment of 920.44 billion rubles ($32.77 billion), comprised of RUB699.88 billion in capital expenditure and RUB220.56 billion in long-term, financial investments.
The budget sees total cash income and revenue of RUB3.74 trillion and liabilities, expenditure and investment of RUB3.8 trillion.
Gazprom expects to borrow RUB90 billion.
It said a cost-reduction program should save it RUB11.3 billion during 2009.
The draft plans will now be submitted to Gazprom's board for consideration.