27 Mar 2020 14:45

Miller at meeting with Putin: no problems financing our investment program for 2020

MOSCOW. March 27 (Interfax) - Gazprom intends to fulfill its investment program for 2020 amounting to more than 1 trillion rubles, the company's CEO Alexei Miller said at a meeting with Russian President Vladimir Putin.

"Speaking about our plans for 2020, an investment program was planned in the amount of 1.08 trillion rubles. The company's financial possibilities and financial stability completely allow for fulfilling this. The ratio of net debt to EBITDA is 1.3 - this is a very good investment rating ratio, and today, we say that there will be no problem with fulfilling our obligations for financing the investment program in 2020," Miller said.

"We're planning to build 1,942 kilometers of trunk gas pipeline and commission 114 wells. Work will be carried out, and three gas treatment units with a capacity of 27.5 million cubic meters of gas will be commissioned, as well as 114 wells. We plan to increase the volume of underground storage by 180 million cubic meters of gas," he said.