Today at the Gazprom Headquarters, Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee and Engbert Panman, Director of Special Projects of N.V. Nederlandse Gasunie, have signed an Agreement of sci-tech cooperation.

The Agreement stipulates developing sci-tech cooperation while securing pipeline operation; utilizing underground gas storage facilities in the European gas supply system; providing energy saving activities; optimizing gas transportation systems; enhancing energy efficiency within the natural gas utilization by final consumers as well as preparing and training personnel.

In order to successfully implement the Agreement the parties will set up task forces with a view to identify priority directions of joint research activities.

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N.V. Nederlandse Gasunie is a 100 per cent owned by the state gas infrastructure and transmission company based in the Netherlands. The company owns one of the largest gas distribution networks in Europe, which is some 12,000 km in overall length, and annually supplies a total of some 100 bcm of gas, which is a significant part of the total European gas consumption.

On November 6, 2007 Gazprom and Gasunie have signed an Umbrella Agreement on the joint participation of both companies in the Nord Stream and BBL gas pipeline projects as well as on the use of gas transportation capacities of Gasunie on the territory of the Netherlands.

According to the Agreement Gasunie will receive a 9 per cent share in the Nord Stream AG share capital, coming from Wintershall and E.ON Ruhrgas that will each cede 4.5 per cent of the shares, while Gazprom will have an option to acquire 9 per cent in BBL Company.

Upon execution of the deal, the shareholding structure in Nord Stream AG will be as follows: Gazprom (51 per cent), Wintershall Holding and E.ON Ruhrgas (20 per cent each), N.V. Nederlandse Gasunie (9 per cent).

During many years Gazprom and Gasunie have laid strong foundations to exchange knowledge and experience primarily in the sector of energy efficiency and optimization of gas transport management.