Gazprom: R&D Activity Yields Some USD 230 Million Between 2005 and 2010 (Russia)

The Gazprom Management Committee took notice of the information about the efficiency of the funds allocated for the pre-investment studies and research and development (R&D) activity between 2005 and 2010 as well as in the planned period between 2011 and 2013.

It was highlighted that between 2005 and 2010 Gazprom performed over 80 pre-investment studies on the crucial projects of the Company.

As of the end of 2010 Gazprom’s subsidiaries were using 390 R&D results. Between 2005 and 2010 the economic effect produced by their implementation reached some RUB 6.5 billion.

The economic effect of the R&D results utilization by the subsidiaries between 2011 and 2013 is expected to exceed RUB 7 billion.

The Management Committee tasked the relevant departments of Gazprom to explore the issues of incorporating the pre-investment studies into the bulk of the new projects implemented by the Company. In addition, Gazprom’s subsidiaries were tasked to study opportunities for increasing the R&D expenses.

6.5 billion Russian rubles = 230.2885 million U.S. dollars

[mappress]

Source: Gazprom, April 15, 2011;