A Board of Directors’ meeting is underway at the Gazprom Headquarters.

The Board of Directors approved the key operating results of Gazprom’s sci-tech complex.

The Management Committee was entrusted with informing the Board of Directors in 2011 on the interim implementation results of the Program for the Gazprom sci-tech complex development until 2013.

Background:

Gazprom’s sci-tech complex (STC) is comprised of the Company’s R&D institutions and subdivisions focused on STC management and acting as customers of scientific researches and developments. The complex also includes the Science and Technology Council of Gazprom.

At present, the STC incorporates the following sci-tech organizations: Gazprom VNIIGAZ, NIIgazekonomika, TyumenNIIgiprogaz, Gazprom promgaz, Podzemgazprom, SevKavNIPIgaz, TsKBN, Podzemhydromineral, Ecological and Analytical Center.

The main objective of the STC is to implement Gazprom’s sci-tech policy aimed at timely and appropriately fulfilling promising tasks and creating a basis for Gazprom’s development as a high technology company.

The share of R&D carried out by the STC currently accounts for 88 per cent of the total R&D performed for Gazprom. This is indicative of the STC’s general capability to autonomously meet sci-tech challenges of Gazprom.

The major areas of Gazprom’s sci-tech policy are as follows:

- forecasting development;

- maintaining a high level of resource endowment;

- enhancing field development efficiency and securing hydrocarbon production

- securing reliable gas deliveries to consumers;

- increasing product and service competitiveness on Russian and foreign markets;

- assuring operational safety;

- increasing the market value and investment appeal;

- ensuring social responsibility.

The Program for Gazprom’s sci-tech complex development until 2013 was approved in November 2008. The Program is targeted at gaining the maximal efficiency from Gazprom’s investments in the R&D sector.

The Program consists of four divisions defining the STC development areas:

- upgrading the Corporate R&D Management business process;

- upgrading the management system of research organizations;

- systematizing intra-corporate management in research organizations;

- expanding innovations in sci-tech activities.

Based on the Program Gazprom’s research organizations are elaborating individual development programs.