At a meeting held at Gazprom’s headquarters, the Board of Directors heard the Management Committee’s report on the company’s preparation for the 2003-2004 autumn/winter season. It was stressed that Gazprom had fully fulfilled Russia’s Federal Government’s task of accumulating commercial gas reserves in the volume of not less than 62 bcm in the underground gas storage facilities.

Gas production, transportation and storage facilities are ready for operation in the coming autumn-winter period.

Reference

The “Main aspects of the Gazprom Group’s preparation for the 2003-2004 autumn/winter season” were approved by the Management Committee Chairman, Alexey Miller, on May 26, 2003.

The document contains a detailed set of measures to be implemented during preparation for the winter heating season.

The document envisages the commissioning of new wells (by October 1, 2003, the well stock of the company accounted for 172 units), booster compressor stations at fields with declining production, and new facilities to increase hydrocarbon production in the 2003-2004 autumn/winter heating season.

By 1 October 2003, Gazprom had overhauled 897 km of gas pipelines, 107 underwater crossings, 183 gas distribution stations and 723 gas compressor units. The company has also accomplished 20 scheduled and preventive repairs. These measures will ensure high security of gas transportation system.

Gas withdrawal from UGS facilities has increased up to 509-478 mln cu m/d in peak load days and up to 456 mln cu m/d from December to February, i.e. by 19 mln cu m/d more than in the 2003/2004 autumn-winter period.

Provided that the discipline of gas consumption in the Russian regions is observed and the required fuel reserves are available to gas consumers, Gazprom will cover the highest seasonal loads successfully.

DIVISION OF RELATIONS WITH MASS MEDIA