Gazprom PJSC (GAZP.RS) has approved a 217.34 billion rubles ($3.78 billion) increase to its investment plans for 2017, bringing total spending to RUB1.13 trillion.
The Russian state-backed natural gas company said the increase was prompted by higher spending and long-term financial investments for its priority gas transport and production projects.
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Gazprom said these projects include pre-development of the Chayandinskoye and Bovanenkovskoye fields, construction of the Power of Siberia and TurkStream gas trunklines and development of the gas-transmission system in northwestern Russia.
Of the total spending, RUB738.54 billion is intended for capital construction, RUB378.73 billion for long-term financial investments, and RUB11.31 billion for asset acquisitions.
Moscow-listed shares are down 0.64 rubles, or 0.4%, at 166.36 rubles at 0907 GMT.
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(END) Dow Jones Newswires
October 19, 2017 05:34 ET (09:34 GMT)