Gazprom raises 2016 investments

Russian gas giant Gazprom said on Tuesday it has decided to increase its 2016 investment programme by 11 billion roubles (US$175 million).

The company’s adjusted investment programme now stands at 853 billion roubles, as compared to 842 billion roubles approved in December 2015.

“The adjustments to the Investment Program for 2016 can be primarily attributed to an increase in long-term financial investments,” Gazprom said in its statement.

External financial borrowings are expected to total 187.8 billion roubles, according to the statement.