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GAZPROM

February 28, 2007

Board of Directors agrees on Mezhregiongazís acquisition of stakes in regional gas companies

The Board of Directorsí meeting has adjourned at the Gazprom Headquarters.

The Board of Directors agreed on Mezhregiongazís acquisition of stakes in 17 regional gas companies.

Reference:

A key element of the Russian Federation energy security is retaining control over the entire gas marketing process. This enables to arrange for a sustainable supply of all energy resources to large industrials, strategic organizations and household consumers.

The establishment of regional gas companies in most of the Russian Federation regions has allowed to shape an optimal system of gas marketing to all classes of customers, improved the collection of cash for gas deliveries and ultimately had a positive impact on the financial bottom lines of all gas industry companies.

In order to gain fuller control over the entire chain of natural gas marketing to final customers Mezhregiongaz is engaged in acquiring stakes in regional gas companies.

Mezhregiongaz is a wholly owned subsidiary of Gazprom focusing on gas supply to Russian customers.

Today the Gazprom Board of Directors has agreed on Mezhregiongazís acquisition of stakes in the following regional gas companies: Bryanskregiongaz, Volgogradregiongaz, Vologdaregiongaz, Ingushregiongaz, Kirovregiongaz, Kostromaregiongaz, Krasnodarregiongaz, Kuzbassregiongaz, Kurskregiongaz, Lipetskregiongaz, Mordovregiongaz, Permregiongaz, Peterburgregiongaz, Pskovregiongaz, Rostovregiongaz, Ryazanregiongaz and Tambovregiongaz.

 

 

 

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