GAZPROM to invest $1bn in Yamal
According to Reuters and other business sources, Gazprom has budgeted $1 bn for investments into the Yamal peninsula. Production at the Yamal Peninsula is due to offset the decline in Gazprom’s traditional West Siberian gas province from the start of next decade. GAZPROM is expected to invest $1.3 bn this year out of a total $36 bn budget which it is estimated the company will have to spend between 2007-20.