| Board of Directors meeting is in progress at Gazpromís Headquarters.
The Board addressed the 2005 budget (financial plan), investment program and cost reduction program issues.
Based on the information submitted, the Management Committee was entrusted with building up Gazpromís Draft investment program and budget over 2005, to be backed by the RF Government and approved by the Board.
Gazpromís 2005 Draft investment program earmarks a total of RUR 212.6 bln in investments, including RUR 188 bln and RUR 24.6 bln in capital and long-term financial investments, respectively.
The gas transmission system development and enhanced security is a top priority of the program, with capital investments planned to account here for 65% of the total.
Under the Draft financial plan, Gazpromís overall income & revenues and liabilities, expenses & investments are scheduled at RUR 1.5 trln and RUR 1.6 trln, respectively, with financial investments to account for RUR 110 bln. The budgetary surplus is projected at RUR 0.3 bln.
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