Gazprom Board Approves RUB1.28 Trillion Investment Plans for 2018

By Adam ClarkFeaturesDow Jones Newswires

Gazprom PJSC (GAZP.RS) said Thursday that its board has approved its 1.28 trillion ruble ($21.88 billion) investment program and budget for 2018.

The Russian gas producer said the key figures of the investment program didn't change from the version approved by its management committee in November.

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The overall investment figures include RUB798.43 billion for capital investments, RUB439.42 billion for long-term financial investments and RUBV40.98 billion for acquisition of non-current assets.

Gazprom said the external financial borrowings under the plan will total RUB416.97 billion.

The company said the investment program for 2018 covers all of its strategically important projects, including pre-development of the Chayandinskoye field, the construction of the Amur Gas processing plant, and the Power of Siberia, TurkStream and Nord Stream 2 gas transmission projects.

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(END) Dow Jones Newswires

December 21, 2017 02:57 ET (07:57 GMT)