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Gazprom to invest $11.67 billion in 2016

Staff writer |
The board approved Gazprom's Investment Program, Budget (Financial Plan) and Cost Optimization (Reduction) Program for 2016.

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The total amount of investments will make up RUB 842 billion ($11.67 billion). At the same time, the amount of capital investments will account for RUB 777.628 billion.

RUB 767.327 billion and RUB 10.301 billion will be allocated for capital construction and acquisition of non-current assets accordingly. The amount of long-term financial investments will total RUB 64.372 billion.

According to the approved Budget of Gazprom for 2016, the external financial borrowings will stand at RUB 90 billion. The approved financial plan will secure a full coverage of Gazprom's liabilities.

The Cost Optimization (reduction) Program for 2016 provides for the measures aimed at cost optimization (reduction) with the expected cumulative effect of RUB 15.3 billion.

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