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    The Moscow Times: Russia's Gazprom Plans $18 Billion Investment in 2015 Amid Pivot to China

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Russia's Gazprom will invest 839.2 billion rubles ($18.1 billion) next year, the bulk for development of the Yamal Peninsula's natural gas

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The Moscow Times: Russia's Gazprom Plans $18 Billion Investment in 2015 Amid Pivot to China

Russia's Gazprom will invest 839.2 billion rubles ($18.1 billion) next year, the bulk for development of the Yamal Peninsula's natural gas deposits and also including research for a new gas pipeline route to China, the company said Thursday.

This is down from more than 1 trillion rubles earmarked for this year, a figure that had initially been set at 806 billion rubles.

Gazprom signed a memorandum at the weekend that it hopes will lead to shipments of an additional 30 billion cubic meters (bcm) of gas a year to China via the so-called western route.

The company also said it is ready to start construction of the undersea part of the South Stream gas pipeline via the Black Sea to Europe.
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