The figure approved by the state-run company’s board compares with a cost-reduction goal of 13.1 billion roubles for this year.

However, overall investments for 2016 are projected to increase to 842 billion roubles, from the present year’s budget of 840.35 billion roubles, of which capital expenditure will account for around 777.6 billion roubles and long-term financial investments around 64.4 billion roubles.

Gazprom’s