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Gazprom continues project finance

Gazprom continues project finance
Gazprom will increase investment in projects in Russia's Far East by 81% to 67 billion rubles ($2.1 billion) in 2009.

Gazprom will increase investment in projects in Russia's Far East by 81% to 67 billion rubles ($2.1 billion) in 2009.

Gazprom will increase investment in projects in Russia's Far East by 81% to 67 billion rubles ($2.1 billion) in 2009, a deputy CEO of the energy giant said on Tuesday. "Despite the economic crisis, Gazprom continues to finance the Eastern projects in full. The total investment in 2009 will be 67 billion rubles, and in 2010 investment will exceed 100 billion rubles [$3.2 bln]," Alexander Ananenkov said at an international economic forum in the city of Khabarovsk in Russia's Far East.

Ananenkov said the projects included the building of a gas pipeline from Sakhalin to Khabarovsk and to Vladivostok, adding that Gazprom had started construction in July.

About 600 participants, including 130 representatives from China, South Korea, Japan and other countries, are expected to attend the two-day forum that opened Tuesday.

A deputy regional development minister earlier said the forum, to be held September 8-9, will map out areas for economic development in Russia's Far East and East Siberia and will also focus on strengthening relations with countries in the Asia-Pacific region.

The RIA Novosti international news agency is a general information partner of the Far Eastern economic forum.

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