Published 3 years ago • loading... • Updated 3 years ago
Russia's Gazprom Plans Investment Cut as Exports Drop
Summary by Ground News
Gazprom's losses could reach 1 trillion rubles by the end of the decade. The loss is due to the loss of revenue from the sale of Russian natural gas to other countries. The sale of natural gas is a key source of revenue for Gazprom, which is trying to reduce its deficit.
Gazprom's investment program in Russia for 2024 will be sharply reduced. This is stated in the decision of the company's management board. According to the draft financial plan, in 2024, spending on the investment program will be reduced to 1.574 trillion rubles (minus 20 percent in annual terms). At the same time, in October, the company's board of directors already reduced development investments for 2023 by 14.5 percent to 1.966 trillion rubl…