20:30 GMT +322 May 2017
Live
    Business

    Russia to invest at least $100 billion in gas fields during next five years (Update)

    Business
    Get short URL
    0 201

    Russia will invest at least $100 billion in developing major gas fields in the next five years, Russian Deputy Prime Minister Igor Sechin said on Friday

    Russia will invest at least $100 billion in developing major gas fields in the next five years, Russian Deputy Prime Minister Igor Sechin said on Friday.

    Speaking at an International Economic Forum in St Petersburg, he said upgrading Russia's existing infrastructure would cost up to $900 billion.

    Sechin said that in spite of a severe economic crisis in the Soviet Union in the late 1980s-early 1990s, gas industry had overcome the dire straits without losses.

    He said massive investment in the past 10 years have helped Russia to recover its positions in the gas market and have strengthened overall global energy security.

    ST. PETERSBURG, June 18 (RIA Novosti)

    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment