Today at the Gazprom Headquarters Alexander Ananenkov, the Gazprom Management Committee Deputy Chairman moderated a meeting dedicated to the implementation by the Gazprom Group of the planned gas production indicators between 2008 and 2011.

Participating at the meeting were Vasily Podyuk, Member of the Gazprom Management Committee, Head of the Gas, Gas Condensate and Oil Production Department, Boris Posyagin, Head of the Company’s Central Gas Flow Dispatching Department, heads and experts of the Gazprom Administration core business units, heads of the following subsidiaries: Gazprom dobycha Yamburg, Gazprom dobycha Urengoy, Gazprom dobycha Nadym, Gazprom dobycha Noyabrsk, Gazprom dobycha Orenburg, Gazprom dobycha Astrakhan as well as Gazprom Neft, Gazprom export, VNIIGAZ, TyumenNIIgiprogaz, Gazkomplektimpex, Gazpromstroyengineering and Yamalgazinvest.

It was pointed out during the meeting that the expected gas production in 2008 in the Gazprom Group totaled 563 bcm.

The meeting participants also discussed the commissioning of new as well as the reconstruction and repair of existing gas production facilities over 2009 to 2011. In particular, the meeting considered the progress in the implementation of the Comprehensive Program for the reconstruction and technical re-equipment of gas production facilities up to 2010, which will enable to ensure the designed production levels at the existing fields.

The meeting highlighted that a stringent compliance with the terms of the new production facilities commissioning in the Nadym-Pur-Taz region and the Bovanenkovo field on the Yamal Peninsula, execution of activities to maintain production levels at the Yamburg, Medvezhye and Urengoy fields were required to achieve the projected volumes of gas production.

Following the meeting results the Gazprom core business units and subsidiaries were engaged with the tasks aimed at fulfilling the Company’s plans related to gas production.

Background:

Gazprom pursues the strategic goal of increasing gas production.

The current outlook for the domestic and foreign gas markets development as well as the Gazprom Group’s existing resource base, let the Company plan the natural gas production of  up to 570 bcm by 2010 and 610-615 bcm by 2015.

Over 2008 to 2010 natural gas production will be maintained via existing and new fields in the Nadym-Pur-Taz region.

Beyond 2010 the projected gas extraction will be secured via further production growth in the Nadym-Pur-Taz region, the commissioning of the Bovanenkovo field (the Yamal Peninsula) in 2011 and the Shtokman field in 2013, the development of new fields in the Ob and Taz Bays offshore, as well as in Eastern Siberia and the Far East.