Russian Gazprom Confirms Spending Plans
Russian state gas monopoly Gazprom has approved its 2019-21 investment programme and budget, unchanged from November's version, it said December 25. The plan for 2019 is to spend rubles 1.326 trillion ($19bn), of which rubles 963bn are for capital investments; rubles 152bn for the acquisition of assets; and rubles 211.2bn for long-term financial investments. It will borrow next year rubles 298bn.
In November Gazprom approved a reduced spending plan.
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Major projects which Gazprom is working on include the Power of Siberia gasline from eastern Siberia to China; the second Nord Stream line to Germany, both of which were planned for completion late next year; and the second TurkStream line, bringing gas to the Balkans by way of western Turkey. Gas field development plans are also moving ahead in eastern Siberia and the Yamal Peninsula.
The approved financial plan will provide for a full coverage of the company’s liabilities without a deficit, it said.