Gazprom backs Turkish link with cash

摘要

Russian state-controlled Gazprom will invest 442.5bn roubles($8.4bn)in pipeline projects this year,accounting for 60pc of its capital expenditure. Spending on new projects rises by 16pc to Rbs412.5bn,with modernisation investment down by nearly 40pc to just Rbs29.9bn.Expansion of its southern route to carry west Siberian natural gas to the proposed 63bn m3/yr Turkish Stream link will absorb almost Rbs278bn,suggesting that Gazprom is serious about line,which emerged after the 63bn m3/yr South Stream project was abandoned(WPA,30 January,p9).