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GAZPROM

December 26, 2006

Gazprom and YaNAO enter into Agreement of Cooperation for 2007

Today, at the Gazprom Headquarters, Alexey Miller, Chairman of the Gazprom Management Committee and Yury Neyolov, Governor of the Yamal-Nenets Autonomous Okrug (YaNAO) have entered into an Agreement of Cooperation for 2007.

The Agreement sets out the mutual commitments in the tax, pricing and social policy, energy conservation and environmental areas as well as land & property, capital construction and transport sectors.

In 2007 the parties will update a draft Program for the comprehensive commercial development of on- and offshore hydrocarbon fields on the Yamal Peninsula, taking account of the major technological developments and economic indicators set forth in the Investment Rationale for the Yamal Peninsula’s Bovanenkovo field development and gas transportation. The draft Program will be submitted for statutory approval by the Government of the Russian Federation.

In the gas supply and saving sector the priority will be given to joint regional programs embracing:

  • gasification;
  • higher efficiency of the primary energy mix;
  • wider use of natural gas vehicles;
  • utilization of low pressure and associated petroleum gas as fuel for the construction of new power plants;
  • conversion of gas boilers to the cogeneration regime.

The 2007 Agreement contemplates deepening the interaction between the parties in the environmental management sector, with an additional Agreement to the November 25, 2003 Environmental Cooperation Accord between OAO Gazprom and YaNAO Administration planned to be prepared given the changed subsurface use conditions and the preparation for and startup of field development on the Yamal Peninsula and in the Arctic offshore.

Pursuant to the Agreement, Gazprom will supply hydrocarbon by-products and YaNAO Administration will arrange for said products being paid for by authorized companies.

The parties will continue the work to convey title to housing, social & cultural and household facilities to municipalities, with employees of Gazprom, veterans of the Great Patriotic War to be further resettled in regions with favorable climatic conditions.

Reference:

The General Agreement is the primary document regulating the cooperation between Gazprom and the Yamal-Nenets Autonomous Okrug (YaNAO). Within the scope of this Agreement the parties have signed additional agreements and accords, and the Memorandum of Cooperation, with agreements of cooperation concluded on an annual basis.

The Yamal-Nenets Autonomous Okrug (YaNAO) is the major gas production province of Gazprom, with over 90 per cent of gas (about 83 per cent of the Russian total) extracted here by the Company. There are currently seven subsidiaries of Gazprom operating in the region, namely: Urengoygazprom, Nadymgazprom, Yamburggazdobycha, Noyabrskgazdobycha, Nadymstroygazdobycha, Novy Urengoy Gas Chemicals Compound and Urengoystroygaz.

In 2006 Gazprom supplied YaNAO with over 1.3 bcm of gas (as at December 1). Next year the Company plans to provide the region with over 1.6 bcm of gas.

The average gasification rate of YaNAO is 39 per cent (versus 53 per cent throughout Russia).

On December 20, 2006, the Gazprom Board of Directors ordered to include in Gazprom’s 2007 budget not less than RUR 20.2 bln (RUR 8 bln up on previous projections) to implement the Gasification Program for RF Regions over 2005 to 2007. Increased investments will enable to incorporate in the Program 5 more RF constituents including YaNAO.

YaNAO’s consumers have no debt for the natural gas supplied.

In 2006 the Gazprom subsidiaries operating in YaNAO have conveyed ownership of 2,128 social & cultural and household facilities to municipalities, with over 1,000 facilities to be transferred in 2007.

 

 

 

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