The amount of financing of the Gazprom investment program in 2017 will total USD 14.73 billion, according to official company’s statement quoted by sputniknews.com.

The board of Russia’s Gazprom energy company approved a USD 14.7 billion investment program in addition to its budget and cost optimization for next year, Gazprom said Monday.

In accordance with the approved budget (financial plan) of Gazprom, the amount of financing of the investment program in 2017 will total 910.67 rubles [USD 14.73 billion],” the company said in a statement.

Over USD 10 billion is earmarked on capital projects, while the firm’s cost optimization program outlines measures estimated to save USD 198 million in 2017.

Gazprom add that it expects outside borrowing to total USD 4.6 billion next year