Gazprom raises estimate for 2017 group investment 3% to 1.8 trln rubles
MOSCOW. May 31 (Interfax) - Gazprom has raised its estimate for investment by companies in the group in 2017.
"According to preliminary estimates, we expect that the volume of investment made by the Gazprom group in 2017 will total 1.8 trillion rubles. This sum includes VAT and is 3% higher than the project we voiced last month," CFO Alexander Ivannikov said during a conference call.
Most of the revisions to the investment program apply to the autumn period, he said.
"We are aware that the market situation remains challenging and we will keep careful watch over spending on investment activity in the current conditions," he said.
According to Gazprom's IFRS accounts for Q1 2017, investment to be made under the current year's investment program for gas, oil, electricity and heat assets will total 1.849 trillion rubles, compared with 1.799 trillion rubles contained in the annual report.
