It was decided to correct the budget for 2007 after the Russian Ministry of Economic Development and Trade, which Gazprom uses to draft the company's plans, recalculated its forecast figures, lowering in particular the forecast price for Russian natural gas exports down to $267.2 per 1,000 cubic meters.
The company's revised 2007 investment program will total 529.38 billion rubles ($19.93 billion at the current foreign currency exchange rate), against the initial total of 531.78 billion rubles ($20.02 billion).
The company's capital investments in 2007 will total 360.56 billion rubles ($13.58 billion), while its long-term financial investments will remain almost the same, at 168.82 billion rubles ($6.36 billion) against the initial total of 171.22 billion rubles ($6.45 billion).
"The 2007 budget and forecast budget parameters for 2008 and 2009 set a total volume of income and cash inflow at 2.566 trillion rubles ($96.61 billion), 2.561 trillion rubles ($96.42 billion) and 2.615 trillion rubles ($98.46 billion) for each year correspondingly; liabilities, spending and investments at 2.656 trillion rubles ($100 billion), 2.689 trillion rubles ($101.24 billion) and 2.857 trillion rubles ($107.57 billion); and financial borrowings at 90 billion rubles ($3.39 billion) annually between 2007 and 2009," the company said in a press release.
