Led by Vlada Rusakova, Member of the Gazprom Management Committee, Head of the Strategic Development Department, a Gazprom delegation paid today a working visit to Romania. Participating in the delegation were also representatives of Gazprom export, Giprospetsgaz and the Russian Federation Embassy in Romania.

As part of the visit Vlada Rusakova met with Ioan Rusu, Director General of Transgaz S.A. and Lucian Stancu, Deputy Director General of Romgaz S.A.

The meeting was held within the scope of the agreements reached during the Moscow meeting of Alexey Miller, Chairman of the Gazprom Management Committee, Constantin Grigorie, the Romanian Ambassador to Russia, Francisc Toth, Director General of Romgaz S.A. and Ioan Rusu, Director General of Transgaz S.A. on October 17, 2008.

The parties discussed cooperation prospects in the area of gas underground storage, as well as alternatives for developing the existing and constructing new transit capacities in Romania with due regard of the South Stream gas pipeline system projected in Southern and Central Europe.

The parties agreed to hold the next meeting in December.

Background:

Natural gas from Russia to Romania has been delivered since 1979. In 2007 Gazprom export supplied the country with 3.93 bcm of gas.

Russian gas is exported to Romania pursuant to two contracts (effective until 2030) signed with Conef Energy and WIEE.

The South Stream is a system of gas pipelines that will integrate Russia and Europe via the Black Sea offshore area. The total length of the Black sea section of the gas pipeline will be some 900 km, the maximum depth will exceed 2,000 m and the rated capacity at the landfall will average 31 bcm.