On November 17, 2010 OAO Gazprom priced USD 1 billion of loan participation notes due November 29, 2015. The notes were issued by Gaz Capital S.A., a Luxembourg special purpose vehicle, under Gazprom's Loan Participation Note Programme.

The loan participation notes were priced at par and have an annual coupon of 5.092%. Crédit Agricole Corporate and Investment Bank and J.P. Morgan Securities Ltd. acted as joint bookrunners and joint lead managers with respect to the notes.

The proceeds of the offering will be used to finance a loan to OAO Gazprom. The proceeds of the loan to OAO Gazprom will be used for general corporate purposes.