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Russia's Gazprom board of directors to approve company’s budget for 2016 on December 28

December 16, 2015, 10:56 UTC+3 MOSCOW
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MOSCOW, December 16. /TASS/. The board of directors of Russia’s top gas producer Gazprom will consider its budget for 2016 and cost reduction program on December 28, the company reported on Wednesday.

Earlier Chairman of the Board of Directors Viktor Zubkov said Gazprom’s investment program will total about 1 trillion rubles ($14.1 bln) in 2016. "The whole investment program was about 820 bln rubles ($11.6 bln); it has been increased recently and will be up to 1 trillion rubles ($14.1 bln)," Zubkov said. "The company allocates over 40 bln rubles ($564.2 mln) every year for development of regions. Investments in the next year will remain at approximately the same level," he added.

Gazprom investment program for 2015 stands at 1.043 trillion rubles ($14.8 bln). In October, it was increased by 24%.

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