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GAZPROM

September 28, 2007

Board of Directors examines opportunity to set up venture fund for innovative technologies

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

The Board examined issue related to an opportunity to set up a venture fund for innovative technologies. The Management Committee was tasked to continue work in this direction.

The meeting will also address other issues falling under the authority of the Gazprom Board of Directors.

Reference:

The prospects of Gazprom business activity are related to the execution of the projects in the regions with specific environmental conditions stimulating the demand increase for unique equipment purposely created for said projects.

The major Gazprom goals are to optimize and increase efficiency of the business activity on development of innoivative technologies and technologic decisions on account of its own interests as well as receiving competitive advantages due to development of crucially new types of products.

Said scheme on setting up new technology and equipment development is aimed at providing continuity and productivity of the innovative cycle. The scheme stipulates the venture financing infrastructure development for innovative projects, which are based on the venture fund.

 

 

 

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