Gazprom has approved an adjusted investment, budget and cost reduction programme for 2016.
The Gazprom Board of Directors has approved an adjusted investment programme, budget (financial plan) and cost optimisation (reduction) programme for 2016.
In line with this adjusted investment programme for 2016, the total amount of Gazprom’s investments will stand at RUB 853.01 billion, up RUB 11.011 billion from the investment program that was approved in December 2015. Accordingly, the amount of long-term financial investments will equal RUB 173.159 billion, with RUB 10.399 billion intended for the acquisition of non-current assets.
Gazprom's adjusted budget means that external financial borrowings will total RUB 187.8 billion. Moreover, the approved financial plan will provide full coverage of Gazprom's liabilities without a deficit.
The adjusted cost optimisation programme includes measures with an expected cumulative effect of RUB 16 billion.
Read the article online at: https://www.worldpipelines.com/business-news/19102016/gazprom-approves-adjusted-investment-programme/
