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Gazprom to Cut Expenses by $238Mln for Optimization in 2015: Board

© Sputnik / Alexandr MaksimenkoThe world's largest natural gas extractor, Gazprom sold 161.5 billion cubic meters to European consumers in 2013.
The world's largest natural gas extractor, Gazprom sold 161.5 billion cubic meters to European consumers in 2013. - Sputnik International
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Gazprom has made a decision to curb expenses by $238.76 million in order to optimize its budget.

Генеральный директор ООО Газпром экспорт Александр Медведев - Sputnik International
Gazprom Expected Gas Sales to Europe Down 9% This Year
MOSCOW, December 23 (Sputnik) — Russian gas giant Gazprom's board of directors has decided to cut back expenses by $238.76 million in order to optimize the company's finances, according to a statement published Tuesday.

According to the company's confirmed 2015 budget, the overall income volume in operational and investment activity will be approximately $108 billion and expenditures for all activities are estimated to be around $110 billion. The company has also forecast around $1.65 billion in foreign loans.

The world's largest natural gas extractor, Gazprom sold 161.5 billion cubic meters to European consumers in 2013. Despite an estimated minimum of 157 billion cubic meters forecast to be sold this year, the Russian energy giant revised its expectations on Monday to 147 billion, a 9-percent shift.

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