Alexey Miller, Chairman of the Gazprom Management Committee held a working meeting with Bernhard Reutersberg, Member of the E.ON Ruhrgas AG Board of Management, and Klaus Schaefer, Chairman of the E.ON Ruhrgas AG Board of Management at the Company’s headquarters today.

This is the first meeting of Alexey Miller and Klaus Schaefer who assumed this managerial position in August 2010.

The meeting participants considered the crucial issues of the Russian-German cooperation in the energy sector.

In addition, the meeting reviewed the current state of the European gas market and its development prospects. The parties were unanimous in their opinion that the relations between suppliers and consumers had to be mutually beneficial and long-lasting.

Background:

E.ON AG is Europe’s largest private electric power and gas concern. Since February 2003 E.ON Ruhrgas AG (before July 1, 2004 Ruhrgas AG) has been a subsidiary of E.ON AG and is responsible for the group’s gas business in Europe, including natural gas production, marketing, transportation and storage.

On October 2, 2008 Gazprom and E.ON AG signed the Agreement on joint participation in the Yuzhno-Russkoye oil and gas field development project, in June 2009 – the agreement on asset swap in natural gas production and marketing.

Pursuant to the agreement, Gazprom received a 49 per cent stake in Gerosgaz, a 2.93 per cent stake holder in the Company. As a result of the arrangement, Gazprom received the full property rights to this stake from E.ON Ruhrgas. In its turn, E.ON received 25 per cent of Severneftegazprom shares (thus bringing its stake to 25 per cent minus three ordinary registered shares and three preferred non-voting shares).

E.ON Ruhrgas AG also partners with Gazprom in the Nord Stream gas pipeline construction.