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GAZPROM

June 30, 2003

Gazprom and Gaz de France have signed a memorandum of cooperation development

On 28 June 2003, Chairman of the Management Committee of Gazprom Alexey Miller and President of Gaz de France Pierre Gadonneix signed a memorandum of further cooperation between the two companies in St.-Petersburg.

In accordance with the Memorandum, a Coordination Center responsible for decision-making on the priority aspects of cooperation between the companies is to be set up. Gazprom’s Management Committee Deputy Chairman Yury Komarov and Deputy Director General of Gaz de France Jean-Marie Dauger were nominated Co-Chairmen of the Coordination Center.

«Strong partnership relations have been established between Gazprom and Gaz de France. However, our joint core business has been gas deliveries to France. The document signed will ensure an expansion of the field of our partnership», - said the head of Gazprom Alexey Miller after signing the Memorandum.

«Gazprom and Gaz de France play an important role on the European gas market. Projects on joint development of gas infrastructure in Europe, gas marketing on the European market as well as energy saving projects are the most promising spheres of cooperation between the companies», - noted Pierre Gadonneix, President of Gaz de France.

Reference:

Gas de France is one of the biggest gas companies in Europe. The core businesses of the company include worldwide exploration, production, sales and distribution of natural gas, gas conditioning and power engineering. In 2002, the turnover of the company amounted to Euro 14.55 billion and net income – Euro 838 million.

Cooperation between Gazprom and Gaz de France in the filed of gas supply began in 1976. Ever since, Gazprom, under long-term agreements, has delivered over 225 bcm of natural gas to Gaz de France. The total annual amount of the Russian gas export to France is as high as 12 bcm. Gazprom supplied 11.4 bcm of natural gas to Gaz de France in 2002.

In 2002, the consortium of Gazprom, Gaz de France and Ruhrgas (Germany) won the tender for acquisition of 49% of stocks of the Slovakian gas company SPP.

Gazprom and Gaz de France also actively participate in the development of cultural relations between Russia and France. In the frames of celebration of the 300th anniversary of St.-Petersburg, Gazprom and Gas de France arranged a retrospective exhibition of Nicolas de Stael, a French artist of the 20th century, which was displayed in the Hermitage museum from 12 May to 15 August, 2003.

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