trending Market Intelligence /marketintelligence/en/news-insights/trending/00uiaiykby6zi053wi8dpw2 content esgSubNav
In This List

Gazprom's 2018 revised investment program, budget drafts get management nod

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch

Blog

Perspectives from China: Chinese M&A in 2022


Gazprom's 2018 revised investment program, budget drafts get management nod

The management committee of Russian integrated oil and gas company PJSC Gazprom approved the revised drafts of the company's investment program and budget for 2018, according to a Sept. 5 release.

Revisions to the investment program raise the overall amount to 1.496 trillion Russian rubles. Funds for capital construction increased by 185.84 billion rubles to 984.26 billion, while the amount set aside for acquiring noncurrent assets increased by 43.82 billion rubles to 84.81 billion rubles. The budget for long-term financial investments saw a moderate decrease of 12.16 billion rubles to total 427.26 billion rubles.

In addition, the revised draft for the 2018 budget raised external financial borrowings by 101.03 billion rubles to 518 billion rubles.

Increased investments in the company's priority gas transmission and liquefaction projects were cited as reasons for the changes in the investment program.

The drafts will be submitted to the company's board of directors.

As of Sept. 5, US$1 was equivalent to 68.42 Russian rubles.