Gazprom cuts capital expenditure

January 24, 2014

Gazprom has reported that it cut capital expenditure by 5% year on year to 900.32bn rubles in January-September 2013. Capital expenditure excluding the purchases of subsidiaries fell by 44.67bn rubles.

Capital expenditure fell in transportation due to the launch of the gas pipelines Ukhta-Torzhok and Bovanenkovo-Ukhta for the Bovanenkovskoye oil and gas condensate field. In other fields, capital expenditure dropped due to the spending on the preparations of the Sochi Winter Olympics.

Copyright: ProNedra, 2014