The FINANCIAL -- Alexey Miller, Chairman of the Company's Management Committee approved Gazprom's Russian Regions Gasification Program for 2012, according to Gazprom.

As part of the Program, this year Gazprom is allocating for Russian regions gasification a record amount of investments – RUB 37.660 billion versus RUB 29.070 billion in 2011. Thus, the amount of financing for Russian regions gasification has been increased by nearly 30 per cent.

In 2012 Gazprom's Russian Regions Gasification Program covers 69 entities of the Russian Federation, including Eastern Siberia and the Far East, where the Eastern Gas Program is being implemented.The implementation of gasification program for Russian regions is based on the General Gas Supply and Gasification Schemes as well as on synchronization schedules for Russian regions gasification.

Gazprom's criteria for regional programs funding are discipline for current gas supplies payments and compliance with investment commitments undertaken by local authorities under the schedules of consumers preparation for gas supplies.

Related Stories

• OPEC spare capacity in the first quarter of 2012 at lowest level since 2008
• Scion tC Receives Autobytel and AutoPacific 2012 Vehicle Satisfaction Award
• Two new board members in Hydro