UPDATE: Gazprom projects free cash flow at over 200 bln rbl in 2017

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MOSCOW, Jun 22 (PRIME) -- Russian gas giant Gazprom expects its free cash flow to amount to over 200 billion rubles in 2017, unchanged from 2016, as gas sales on the local and global market are likely to stay flat, Deputy CEO Andrei Kruglov said on Thursday.

The executive said that his company’s investment program is also projected to remain flat from the previous year at around 911 billion rubles and added that Gazprom hopes the state, as its main shareholder, will maintain a well-balanced approach towards investment and dividend payments.

Kruglov also said that the company has fully covered investment of the Amursky gas refinery, which is currently under construction, for 2017 and plans to draw on project financing in 2018.

Alexander Ivannikov, head of the financial and economic department, said that Gazprom’s investment program is planned at about 850 billion rubles in 2018-2019.

He added that the company has no particular figures of investment intended for the Sila Sibiri (Power of Siberia) natural gas pipeline in 2018-2019. In 2017, 159 billion rubles was invested in the project.

(60.0000 rubles – U.S. $1)

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