MOSCOW, December 24. /TASS/. The price of Gazprom shares is up by more than 2.9% on the Moscow Exchange, according to trading data.

The price of Gazprom shares started growing following the statements by the company’s board of directors on approval of a 7% decrease in the investment program and 2025 budget compared with this year to 1.524 trillion rubles.

As of 5:32 p.m. Moscow time (2:32 p.m. GMT), the price of Gazprom shares was up by 1.65% at 121.97 rubles. By 5:42 p.m. Moscow time (2:42 p.m. GMT) the price of the company’s shares had extended gains to 2.92% reaching 123.25 rubles.

Meanwhile, Deputy Chairman of the Gazprom Management Committee Famil Sadygov said that the company’s budget for 2025 is based on the export price of gas below the current prices in Europe and Asia and the average level of 2024.