Gazprom boosts spending plans

摘要

Russian state-controlled Gazprom aims to raise investment by 24pc this year compared with its original plan, as a result of stronger-than-expected natural gas exports and higher prices. The company's management committee has approved spending of almost 1.1 trillion roubles ($19bn) in 2017, subject to final endorsement by the board of directors. Initial investment of Rbs911bn was approved in December. "The revision is mainly because of the need to increase spending and long-term financial investment in priority transport and production projects," the firm says. Gazprom revealed its capital requirements for key developments earlier this year, although its revised figures have yet to be released.