Gazprom’s board has approved adjustments to its 2016 investment, budget, and cost-cutting programmes, the Russian state-run giant reported on October 18, 2016.
Overall investments will be rubles 853 bln ($13.5 bln), rubles 11 bln (or 1.3%) higher than the plan approved ten months ago.
Of that, rubles 173.2 bln ($2.75 bln) will be for long-term financial investments, with rubles 10.4 bln ($165 mln) intended for acquiring non-current assets.
In line with Gazprom's adjusted budget for 2016, external borrowings will be rubles 187.8 bln.
The approved financial plan will provide for a full coverage of Gazprom's liabilities without a deficit.
The revised 2016 cost-cutting plan foresees an expected cumulative effect of rubles 16 bln.
Gazprom said the 1.3% rise in 2016 investments «can be primarily attributed to an increase in long-term financial investments» but gave no more details.
