Gazprom increases 2024 investment programme by 4% to $16.9 billion
Published by Uma Rajagopal
Posted on October 30, 2024

Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.
Published by Uma Rajagopal
Posted on October 30, 2024

MOSCOW (Reuters) – Russian energy giant Gazprom said on Tuesday it has increased its 2024 investment programme by around 4% to 1.64 trillion roubles ($16.85 billion) from 1.57 trillion roubles approved last December.
Gazprom said both key gas exports and domestic supplies have been rising, allowing the company to boost estimates for sales proceeds by 6% from its previous forecast to 7.9 trillion roubles this year.
The funds are mainly allocated for the development of gas production centres in the Yamal peninsular as well as in eastern Russia, Gazprom said.
The company, which lost most of its European market share after Russia’s military conflict with Ukraine began in February 2022, is trying to reconfigure exports towards China and Turkey. This requires large-scale financial injections into the construction of gas transport infrastructure.
Gazprom also cited the Power of Siberia pipeline to China, which is due to reach annual capacity of 38 billion cubic metres by the end of this year, and gas processing capabilities as priority projects.
($1 = 97.3455 roubles)
(Reporting by Marina Bobrova and Vladimir Soldatkin; Writing by Maxim Rodionov; Editing by Mark Trevelyan and Susan Fenton)