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GAZPROM

November 26, 2003

Gazprom's delegation took part in the Geneva energy security forum

On November 20, in Geneva, the Energy Security Forum held a meeting within the framework of the 13th session of the Committee for Stable Energy of the UN European Economic Commission (UN EEC). The heads of the leading European oil, gas and financial companies and international organizations participated in the Forum. The Head of Foreign Relations Department, Stanislav Tsygankov, who is also a Member of the Bureau of the Executive Council of the UN EEC Gas Center, headed Gazprom’s delegation.

The main goal of the Forum is to assess energy security risks, primarily in the financial sector, through a dialogue between energy producers and consumers, governments and international organizations under the UN EEC umbrella.

At present, the energy security issue has become particularly important for Europe due to its increasingly growing dependency on energy import, instability of the world’s energy market, rise of expenses on the development of alternative energy sources and the European gas market liberalization.

The Forum also assists in balancing the interests of the society, businesses and political circles.

Stanislav Tsygankov stressed the key role Gazprom plays in enhancing the Russian and European energy security, and the significance of long-term contracts for providing gas supply security. Mr. Tsygankov pointed out the necessity of accounting the interests of gas producers, consumers and transporters, and the importance of providing undiscriminating conditions for Russian companies’ access to the European capital market for financing large-scale projects.

The principles expressed by Stanislav Tsygankov are similar to the European gas companies’ common position fixed in the UN EEC Gas Center report on gas supply security in Europe.

At the conclusion of the Forum, its participants signed a Memorandum underlining the necessity of holding the Forum on the permanent basis as the UN EEC partner agency.

Reference

The European Economic Commission is the most numerous of the five UN regional economic commissions. It comprises 55 states: all European and the CIS countries, Russia, USA, Canada and Israel. The EEC headquarters is in Geneva (Switzerland). Brigitte Shmegnerova (Slovakia) is the EEC Executive Secretary and the UN Deputy Secretary-General.

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