A Board of Directors’ meeting has commenced at the Gazprom Headquarters.

The Board of Directors heard a report on the progress with the preparation of the restated projections as regards gas production and consumption as well as gas transmission system development up to 2020.

Reference:

On February 28, 2007, the Board of Directors reviewed the projected gas quotas for Russia until 2020, which had been formulated with due regard of retaining the existing trend of gas consumption growth in Russia.

The Management Committee was tasked with adjusting Gazprom’s mid and long-term gas balances as part of the Russian Federation fuel and energy balance currently under development and the General Scheme of Russia’s Gas Industry Development up to 2030 as well as based on the progress with the signing of long-term contracts for gas supply to Russian consumers in compliance with the November 30, 2006 Directive of the Russian Federation Government on the Provision of the National Economy with Electricity and Gas.