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Russia’s energy giant Gazprom has received the blessing from its board of directors for its investment program and budget for next year, which is set at RUB 1.1 trillion (around $11 billion), a decrease from RUB 1.52 trillion (almost $15.22 billion) earmarked for 2025 and the spending of RUB 1.64 trillion (nearly $16.43 billion) for 2024.
While revealing its investment program and budget for 2026, the firm confirmed a total amount for by the investment program of RUB 1,100 billion. This is expected to be used for the company’s top-priority projects that were mostly on the agenda for 2025 as well.
These undertakings encompass 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 P ower of Siberia gas trunkline , development of the gas processing complex, as well as the implementation of the Eastern Gas Supply System gas trunkline system project and projects securing gas balance in peak periods.
This comes after Gazprom and China’s CNPC decided to advance cooperation. The annual meeting of the joint coordinating committee of the companies was moderated by Vitaly Markelov , Deputy Chairman of the Gazprom Management Committee, and Zhao Ying , General Counsel of CNPC, in Beijing.
The duo noted the high reliability of Russian gas supplies to China via the eastern route, represented by the Power of Siberia gas pipeline. Gazprom regularly provided gas supplies over the daily contractual volumes in 2025.
The participants discussed the progress of the project for gas supplies via the Far Eastern route and reviewed the matters related to the prospective Russian gas supplies to China.
The two companies continue their joint work in R&D, underground gas storage, personnel training, and standardization. During the meeting, two intercorporate standards for coalbed methane (CBM) field development were signed.
Earlier this year, the Vietnam National Industry – Energy Group (Petrovietnam) and Gazprom talked about the proposed infill drilling campaign for two fields in Vietnam’s Nam Con Son Basin.