Gazprom will continue to conquer markets

The world's largest gas producer, Russia's Gazprom, has adopted next year's budget. It is clear from this that the company will continue to increase gas sales in the Union. Investment costs for gas pipelines will also increase by almost 40 percent.

Next year, the forecast is slightly lower - 188 billion cubic meters. m of raw materials, but it still beats the result of 2016, when the company sold less than 180 billion m3 of gas to the European continent.

Export will be possible thanks to the expansion of transport routes. In general, next year Gazprom wants to spend about 800 billion rubles (about 11.5 billion euros) on this, of which 1.52 billion euros for the controversial Nord Stream 2.

Most of the money will be used to build gas pipelines with China and Turkey. For example, next year the company wants to spend 200 billion rubles (almost 3 billion euros) on a gas pipeline to China.

Financing this investment is critical from the Russian company's perspective, as pipeline deliveries to China and Turkey will begin as planned at the end of 2019.

Gazprom is the largest gas concern in the world. Last year's revenues reached $ 91 billion. The company employs over 450,000 people. Besides producing natural gas, it is also a major producer of crude oil. The majority shareholder of the company (just over 50 percent of the shares) is the Russian state.