Gazprom can implement investment program at oil prices of $30-40

Andrey Kruglov, the financial director of the Russian gas giant, said in an interview with the Rossiya-24 television channel that while forming its budget for 2015 the company had considered a scenario of oil prices dropping to $30-40 per barrel. "The company will be ready to implement all of its investment plans even at such oil prices," he said, adding that even if oil prices stayed at $40 for a year, the company would not abandon its investment program.

According to the Gazprom executive, the gas giant draws its annual investment programs on the basis of a conservative scenario and adopts them in December, whereas it can judge about yearly performances already in November. That means that the company can can include only top-priority projects in its investment program.