Deals
Gazprom Mulls $6 Billion Asset Sales, Dividend Freeze
- Natural gas giant includes possible asset sales in 2017 budget
- Plans for 2017-2019 include freezing dividends at 2016 level
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Gazprom PJSC, the world’s biggest natural gas producer, is considering asset sales, freezing dividends and increasing its borrowing as export earnings wane, according to its three-year budget.
The state-controlled company aims to raise 350 billion rubles (around $6 billion) from asset sales this year, while borrowing may climb to 288 billion rubles and more than double from that level next year, a copy of the document obtained by Bloomberg News show. Dividend payments are forecast at the 2016 level through 2019, according to the plan, approved by the board in December.