Gazprom may boost 2014 investments to 1 trillion roubles: source

MOSCOW: Russian gas pipeline monopoly Gazprom may increase its 2014 investment programme by 221 billion roubles ($5.8 billion) to over 1 trillion roubles, a source at the company told Reuters on Friday.

"Gazprom is discussing raising its 2014 investment programme from 806 billion roubles to 1,027 billion roubles," the source said. Gazprom declined to comment.

On Thursday, Gazprom's Chief Financial Officer Andrei Kruglov said the firm was looking into boosting investment this year to a level that would then be maintained in 2015.

The company reported a 41 percent fall in first-quarter net profit after cutting prices for gas deliveries to Ukraine, and it has lowered projections for exports and gas prices in Europe, its main source of revenue.