Alexander Medvedev, Deputy Chairman of the Management Committee of Gazprom, Dr. Klaus-Ewald Holst, Chairman of the Management Board of Verbundnetz Gas AG and Dr. Gerhard Holtmeier, Member of the Management Board of Verbundnetz Gas AG signed in Moscow, within the Neftegaz 12th International Exhibition, the Agreement of Sci-Tech Cooperation.

Attending the signing ceremony were Vlada Rusakova, Member of Gazprom’s Management Committee, Head of the Strategic Development Department and Klaus Dieter Barbknecht, Member of the Management Board of Verbundnetz Gas.

The Agreement stipulates promoting sci-tech cooperation between the parties in the area of gas transmission, distribution and utilization, anti-corrosion protection of gas pipelines and energy saving, as well as strengthening the interaction between the companies under the conditions of the economy in transition.

For the purpose of implementing the Agreement provisions Vlada Rusakova and Klaus-Ewald Holst signed a Supplement to the existing Program for Sci-Tech Cooperation between the companies for 2007 to 2009, which contemplates performing joint activities in the areas set out in the Agreement.

Background:

Established in 1969 (Leipzig), Verbundnetz Gas (VNG AG) is a supplier of gas to the German eastern federal lands and Berlin. VNG also deals with natural gas import, supply to consumers as well as underground gas storage.

The company’s shareholders are as follows: EWE – 47.9 per cent, Wintershall Holding AG – 15.79 per cent plus one share, VNG Verwaltungs und Beteiligungsgesellschaft mbH – 25.79 per cent minus one share, EEG – 5.26 per cent and Gazprom – 5.26 per cent.

The 1998 Agreement of Cooperation in sci-tech developments in the area of special technologies for underground gas storage in rock salt caverns laid the foundation for cooperation between Gazprom and Verbundnetz Gas in the sci-tech sector.

Over the past period the highly-specialized cooperation has developed into the mutually beneficial collaboration embracing a number of significant areas.