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GAZPROM

February 28, 2008

On meeting between Gazprom and YaNAD Administration on interaction during Bovanenkovskoye field pre-development and Bovanenkovo-Ukhta gas trunkline network construction

Nadym today hosted a meeting dedicated to the execution of projects related to the Bovanenkovskoye oil and gas condensate field (OGCF) development.

The meeting was co-chaired by Alexander Ananenkov, Deputy Chairman of the Gazprom Management Committee and Viktor Kazarin, Vice Governor of the Yamal-Nenets Autonomous District (YaNAD).

Also present at the meeting were heads of Gazpromís core business units and subsidiaries as well as the YaNAD Administration.

The participants addressed issues of interaction between Gazprom and YaNADís management and experts during the Bovanenkovskoye OGCF pre-development as well as the Bovanenkovo-Ukhta gas trunkline system and the Obskaya-Bovanenkovo railroad construction.

The meeting discussed issues of collaboration within the January 29, 2002 Memorandum of Cooperation between the YaNAD Administration and Gazprom for the comprehensive commercial development of the Yamal Peninsula hydrocarbon fields and offshore areas. The parties confirmed their commitment to fulfilling the mutual obligations in the sectors of taxation, pricing and social policies, energy conservation, natural resources use including land and property relations, capital construction and transportation.

Reference:

The General Agreement is the main document governing cooperation between Gazprom and the Yamal-Nenets Autonomous District (YaNAD). As part of the Agreement the parties also signed additional agreements, accords and a Memorandum of Cooperation as well as annually enter into agreements of cooperation.

The Yamal-Nenets Autonomous District (YaNAD) is the main gas production province of Gazprom. The Company produces here over 90 per cent of overall gas (nearly 83 per cent of the total national production).

 

 

 

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