Gazprom Energoholding, the utility unit of Russia‘s top natural gas producer Gazprom , expects long-term investments rising by up to 15 per cent due to a weaker rouble, which inflated the prices of imports, the company announced midweek.

Russian companies which heavily rely on the import of equipment have been suffering due to a weaker rouble, which declined by a third since the middle of last year following a fall in the prices of oil, Russia’s chief exporting commodity.
Gazprom Energoholding, Russia’s top utility, expects its investments into new projects by 2017 to rise to $8.3bn this year, Denis Fyodorov, the director general, told reporters.

He also said that the company has been asking the government to freeze up some projects, or delay their implementation for several years in order to avoid excessive spending.

Meanwhile Gazprom plans to build a power station in the North Caucasus region of Chechnya with capacity of 360 megawatt. German industrial group Siemens will supply steam turbines.

Gazprom Energoholding manages power generator OGK-2 , power company TGK-1 and power generator Mosenergo. It accounts for 17 per cent of Russia’s total electricity power capacity.