The Gazprom Headquarters hosted today a working meting between Alexander Ananenkov, Deputy Chairman of the Company’s Management Committee and Vyacheslav Shtyrov, President of the Sakha Republic (Yakutia).

The meeting addressed the status and prospects for the bilateral cooperation. Special attention was paid to the parties’ interaction when developing the Chayanda oil and gas condensate field and creating the Yakutsk gas production center by Gazprom. Alexander Ananenkov and Vyacheslav Shtyrov positively evaluated the work done by the Joint Working Group created for the purpose of implementing the Agreement of Cooperation and the Accord on Gasification between Gazprom and the Republic of Sakha (Yakutia).

The parties also exchanged opinions on interaction during the execution of the Comprehensive Development of South Yakutia and Comprehensive Development of Western Yakutia investment projects in the Republic.

Background:

The Joint Working Group was formed in compliance with the July 2007 Agreement of Cooperation between Gazprom and the Republic of Sakha (Yakutia).

The Accord on Gasification between Gazprom and the Republic of Sakha (Yakutia) was inked in June 2008.

In accordance with the Russian Federation Government Directive of April 16, 2008, Gazprom, as the owner of the Unified Gas Supply System was granted the license for the Chayanda oil and gas condensate field on a sole source basis.

The Chayanda oil and gas condensate field is located in the Lensky district of the Republic of Sakha (Yakutia). The C1+C2 reserves of the field account for 1.24 trillion cubic meters of gas and 68.4 million tons of oil and condensate.

The Republic of Sakha (Yakutia) has elaborated and obtained federal approval for the Comprehensive Development Scheme for the production forces, transport and energy sectors until 2020 and the Comprehensive Development of South Yakutia project. Both documents stipulate shaping of a gas production and processing center in the Republic.