After taking its projected investment programme, financial plan and cost optimisation programme for 2018 - 2019, along with its preliminary operating results for 2016, into consideration, Gazprom’s board of directors has approved each of the above programmes for 2017.
Pursuant to Gazprom’s approved budget (financial plan), the company’s total amount of investments in 2017 will stand at RUB910.67 billion, with RUB625.455 billion intended for construction projects, RUB0.125 billion for the acquisition of non-current assets, and RUB285.09 billion for long-term financial investments.
In line with Gazprom's financial plan for 2017, external financial borrowings will total RUB288.26 billion. The approved financial plan will provide for a full coverage of Gazprom's liabilities without a deficit.
Moreover, its 2017 cost optimisation programme includes optimisation measures, which will are expected to have a cumulative effect of RUB12.24 billion.
Image courtesy of Gazprom
Read the article online at: https://www.worldpipelines.com/business-news/20122016/gazprom-approves-2017-financial-programmes/