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    Gazprom raises investment plan for 2008 by 16%

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    MOSCOW, July 15 (RIA Novosti) - Gazprom has increased the size of its investment program for 2008 by 15.7% to 821.66 billion rubles ($35.4 billion), the Russian state-run energy giant said on Tuesday.

    The company also raised its budget for this year by 10.63% to 3.236 trillion rubles ($139.3 billion).

    Gazprom's management committee has approved the draft investment program and draft budget, revising documents accepted last December. The new drafts are still to be approved by the board of directors.

    The revision follows adjustments to the list of investment projects for 2008, rescheduling of a number of projects, changes in the price and volumes of gas to be sold, as well as macroeconomic factors.

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