Novatek raises 2019 capex forecast to 200 bln rbl from 185 bln rbl

MOSCOW, Jul 25 (PRIME) -- Russian independent gas producer Novatek has raised its 2019 capital expenditures forecast to 200 billion rubles from 185 billion rubles, Deputy CEO Mark Gyetvay said in a conference call on Thursday.

“Our program for capital expenditures for 2019 initially outlined investment of about 185 billion rubles, which is almost doubling on the year. But today, we revise the capital expenditure indicator for 2019 upwards to about 200 billion rubles due to additional unplanned work on a new LNG project, the Obsky LNG,” he said.

(63.1162 rubles – U.S. $1)

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