The Gazprom Headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Masami Iijima, President and Chief Executive Officer of Mitsui.

During the negotiations special emphasis was placed on the prospects for interaction between Gazprom and Mitsui within the Eastern Gas Program. In particular, the parties discussed potential cooperation on gas processing and gas chemical projects in Russia including LNG production.

In addition, the meeting gave a positive evaluation to the companies’ partnership in the Sakhalin II project. It was noted that Russian LNG exports to Japan added to the energy supply diversification and made a substantial contribution to the energy safety.

Background:

The Japanese Mitsui & Co., Ltd. (Mitsui) specializes in all types of energy sources development, purchase and sale, distribution and processing in Japan and abroad, as well as in financial activities.

Mitsui holds a 12.5 per cent stake in Sakhalin Energy, the operator of Sakhalin II, the world’s largest integrated petroleum project. Among other participants of the project are Gazprom (50 per cent plus one share), Shell (27.5 per cent) and Mitsubishi (10 per cent).

On February 18, 2009 the first Russian LNG plant was brought into operation as part of the Sakhalin II project.

In April 2009 the first carrier with Russian LNG arrived in Japan.

The September 3, 2007 Order by the Russian Federation Industry and Energy Ministry approved the Development Program for an integrated gas production, transportation and supply system in Eastern Siberia and the Far East taking into account potential gas exports to China and other Asia-Pacific countries (Eastern Gas Program). Gazprom was appointed by the Russian Federation Government as the Program execution coordinator.