Gazprom raises 2021 investment program about 30% to 1.185 tln rbl

MOSCOW, Sep 16 (PRIME) -- The management board of Russian gas giant Gazprom management board has approved increasing the investment program for 2021 to 1.185 trillion rubles from 902.413 billion rubles approved in December 2020, the company said in a statement on Thursday.

The company attributed the adjustment mainly to a rise in investment in priority gas transportation and production projects.

Of the total, capital expenditures were raised by 160.866 billion rubles to 1.025 trillion rubles and long-term investment by 81.484 billion rubles to 99.071 billion rubles.

The management board also adjusted the budget for 2021. The amount of borrowing was decreased by 2.76 billion rubles to 508.866 billion rubles excluding intragroup borrowing.

The decisions are yet to be considered by the company’s board of directors.

(72.8520 rubles – U.S. $1)

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