Russian gas giant Gazprom has revised its 2017 financial plans, raising its investment ceiling for the year to more than £15billion.
The revision adds nearly £3billion to the original investment programme agreed in December 2016.
Of that amount, £9billion is intended for capital construction.
The approved financial plan will provide for a full coverage of Gazprom’s liabilities without a deficit, the firm said in a statement.
The revised cost optimization (reduction) program for 2017 includes cost optimization (reduction) measures with an expected cumulative effect of £2million.
The adjustments to the investment program for 2017 were mainly caused by the increase in spending and long-term financial investments with regard to Gazprom’s priority gas transmission and production projects of strategic importance.
These include pre-development of the Chayandinskoye and Bovanenkovskoye fields, construction of the Power of Siberia and TurkStream gas trunklines, and development of the gas transmission system in northwestern Russia.