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Gazprom is the world’s largest gas company and possesses the world’s largest natural gas reserves.
Gazprom’s share in the global and Russian gas production is respectively about 20 percent and 85 percent.
Gazprom owns the world’s largest gas transmission system stretching over 157 000 km. The company exports gas to 32 countries.
The company is owned 50,002 percent by the Russian state.
In 2007, Gazprom entered into agreement with Total and StatoilHydro in the Shtokman project in the Barents Sea. The company also is heavily engaged in the development of new gas resources in the Yamal Peninsula.
Several major gas pipeline project are under planning and development, among them the Nord Stream project stretching across the Baltic Sea.
Gazprom adopted revised investment plan
Gazprom headquarters
The revised 2009 investment plan of Russian energy major Gazprom was last week approved by the company board.
The plan totals 761.5 billion RUB, which is down 158.9 billion from the 2008 plan, a press release from the company reads.
Capital investments will be down 211.6 billion from 2008 to a total of 488.25 billion RUB, while long-term investments will amount to 273.28, which is 52.72 billion RUB less than last year. A significant part of both sums will be spent on the two top priority projects, the Shtokman field in the Barents Sea and the Bovanenkovo field in Yamal.
Meanwhile, the company expects to get revenues cut dramatically by 407.9 billion RUB to a total of 3.3 trillion RUB.
