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August 30, 2007

OJSC MMK and OJSC Gazprom sign a Cooperation Agreement

Victor Rashnikov, President of the MMK Managing Company, and Alexander Ananenkov, Deputy Chairman of the OJSC Gazprom Management Board, have signed the Cooperation Agreement Between OJSC MMK and OJSC Gazprom for the Period up to 2015.


According to the document, the parties will, on a mutually beneficial basis, develop cooperation aimed at securing the supply of steel products to Gazprom and associated plants manufacturing technological equipment and pipes for Gazprom.

In accordance with the Agreement, the parties will use their research, technological, organizational and intellectual potential and engage specialized organizations and institutes for the implementation of the OJSC Gazprom OJSC MMK Research and Technological Cooperation Program.

Gazprom and MMK will coordinate their actions with the leading pipe making plants in order to supply them with high quality rolled steel. Gazprom will keep MMK informed of the requirements of the plants for the products produced by OJSC MMK, if such information is available to Gazprom.

On its part, OJSC MMK will commission a continuous caster and a 5,000 mm plate mill to supply material for manufacturing large-diameter pipes to be used in new Gazprom projects.

Furthermore, as early as 2007, MMK will upgrade its existing 2,000 mm hot strip mill and develop a corresponding technology for production of pipes from coils up to 18.7 mm thick and a strength up to X70 to meet Gazprom's potential demand for such material.

When implemented, these projects will allow to produce high quality material for manufacturing pipes with advanced characteristics and expand the presence of Russian producers on the large diameter pipes market.

OJSC Gazprom, in case it needs material produced by MMK, will inform the Company of the expected volume of orders.

In its turn, MMK will attach top priority to the fulfillment of Gazprom's orders.

In accordance with the Agreement, separate agreements and contracts with OJSC MMK will be based on the competitive parameters of the products in terms of their quality and price.




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