UKHTA (north-west Russia), December 3 (RIA Novosti) - Gazprom's investment program in 2009 will be worth 920 billion rubles ($33 billion), the state-run energy giant's CEO said on Wednesday.

"As for the investment program for 2009, we are planning for 920 billion rubles," Alexei Miller told reporters.

He said the program's underlying principle was that the same volume of projects should be implemented, but with less funding. He added that as metal and construction material prices were falling, operating costs should also be expected to decline.

Miller also said the energy giant may use state funds to implement its investment projects. He said state funds could be made available "on more attractive terms than those offered by the market."

The executive stressed that Gazprom's financial status was stable, while gas prices remained high, and that "prices have reached their peak."

He said they could fall in the first half of next year, "but all the same, they will remain sufficiently high."