While disclosing that the board of directors has approved its investment program and budget for 2025, Gazprom highlighted that the RUB 1.52 trillion will be used to finance top-priority projects, such as further development of the gas production centers in eastern Russia and the Yamal Peninsula, gas infrastructure expansion in Russian regions, expansion of the capacities of the Power of Siberia gas trunkline and the firm’s gas processing complex, alongside the implementation of the Eastern Gas Supply System gas trunkline project and others aimed at securing gas balance in peak periods.
“The approved financial plan is well-balanced; it ensures the achievement of the company’s strategic goals and provides for a full coverage of its liabilities without a deficit. Decisions on debt financing under the borrowing program will be made on the basis of the market conditions, liquidity and Gazprom’s financing needs,” underlined the Russian gas giant.
Famil Sadygov, Deputy Chairman of Gazprom Management Committee, describes Gazprom’s performance in 2024 as strong, with the proceeds from the sales of gas estimated to be RUB 4.6 trillion (about $46.1 billion), which is RUB 155 billion (around $1.6 billion) more than was envisaged in the initial financial plan. Sadygov also underlines that the firm’s EBITDA will become one of the highest in its entire history, with conservative estimates placing it at more than RUB 2.8 trillion (approximately $28.1 billion).
“The composition of capital expenditures will not experience any considerable changes in 2025: a considerable amount of funds will, as before, be allocated for the implementation of top-priority projects that ensure reliable gas supplies to the domestic and foreign markets, as well as for the expansion of gas infrastructure across Russian regions. In 2025, we will also continue to pursue our stringent policy aimed at the containment of operating costs,” added Sadygov.
According to Gazprom’s board of directors, the main outcome of 2024 is a continuing growth in demand for conventional energy sources against the background of the unstable geopolitical situation and an increased attention to the matters of energy security. The firm’s board emphasizes the uptick in oil, gas, and coal consumption, perceived to have reached all-time maximums. The first preliminary estimates indicate that global gas consumption went up by more than 100 billion cubic meters in 2024, mostly driven by Russia, China, and India.
