Bloomberg News

Gazprom to Raise Investment Plan to 844 Billion Rubles This Year

April 27, 2012

OAO Gazprom, the world’s biggest natural-gas producer, is raising its investment plan for this year to 844 billion rubles from an earlier 777 billion rubles, First Deputy Chief Financial Officer Alexander Ivannikov said.

Gazprom is planning group capital expenditures, including spending on power and oil units, of 1.1 trillion rubles ($37.5 billion) this year. That would be a 32 percent decline from capital expenditures of 1.63 trillion rubles in 2011, according to a presentation on the state-run Russian producer and exporter’s website.

To contact the reporter on this story: Anna Shiryaevskaya in Moscow at ashiryaevska@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net


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