Gazprom Increases 2024 Investment Forecast to $26.9 Billion

Gazprom also expects that results of the fourth quarter will contribute to debt burden lowering as of the year-end.

Photo: Reuters

The Gazprom Group has revised its 2024 investment forecast to 2.86 trillion rubles ($26.9 billion), according to the company’s latest report.

The investment estimate was therefore revised upward by 8% from 2.639 trillion rubles ($24.8 bln), The Caspian Post reports, citing Russian media.

"The total volume of investments utilized, according to the investment program of the group for 2024 (for gas, oil, power generating, heat generating, and other assets) stands at 2.859 trillion rubles," the company informed.

The cash flow from operations reached 1.659 trillion rubles ($15.6 bln) subject to an adjustment for a change of deposits with banks.

Gazprom also expects that results of the fourth quarter will contribute to debt burden lowering as of the year-end.