On November 21, Krakow hosted a meeting of EuRoPol GAZ’s Supervisory Council (SC) headed by the SC Chairman, Deputy Chairman of Gazprom’s Board of Directors, Alexander Ananenkov.

The SC members - Konstantin Chuychenko, Member of Gazprom’s Board of Directors and Head of Legal Department, Alexander Medvedev, Member of Gazprom’s Board of Directors and Gazexport’s Director General, and Stanislav Tsigankov, Head of Gazprom’s Foreign Relations Department - also attended the meeting.

The SC focused on examining the timetable of completing the construction and commissioning of the first line of the Polish section of the Yamal-Europe gas pipeline. At present, the throughput of the gas pipeline is tested. Taking this into account, the SC recommended EuRoPol GAZ’s Board to finally determine the pipeline capacity and to start negotiations with counteragents on the contracts for constructing the Chehanuv, Shamotuli and Zambruv compressor stations within a fortnight. EuRoPol GAZ can contact other suppliers and contractors only if the construction is finished on time and the initial cost of site facilities does not change. The results are to be reported at the next SC meeting.

EuRoPol GAZ’s Management Committee reported on restructuring its debts to the major shareholders - Gazprom and PSOGC. The SC recommended the Management Committee to complete works within the determined period.

The SC was informed that EuRoPol GAZ’s Management Committee submitted to the Chairman of the Department of Power Engineering Regulation of Poland the application on fixing gas transmission tariffs.

The next SC meeting is to be held in Tomsk in the first half of December 2003.

Reference

EuRoPol GAZ was established for developing and constructing the Polish section of the Yamal-Europe gas pipeline. Gazprom” (48%), Polish State Oil and Gas Company - PSOGC (48%) and Gaztrading (4%) are the shareholders of EuRoPol GAZ.

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