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. Last Updated: 07/27/2016

Gazprom Investment Up

Gazprom said Thursday that it increased this year’s investment program by 13 percent to cover “key” transportation projects and developments in Russia’s east.

Gazprom plans to spend 905.2 billion rubles ($29 billion), including 751.8 billion rubles for capital expenditures, the company said in a statement after management revised its plans for this year.

The gas export monopoly plans to increase spending on the Kirinsky field off Sakhalin, where it boosted gas reserves by 33 percent this year, the Zapolyarnoye field in West Siberia and other deposits to help compensate for declines at aging fields. 

(Bloomberg)