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GAZPROM

June 28, 2005

On working meeting between Alexey Miller and Ehud Olmert

Gazpromís Headquarters today has hosted a working meeting between Alexey Miller, Gazpromís Management Committee Chairman and Ehud Olmert, Israel's First Deputy Prime Minister & Industry, Trade and Labor Minister.

The meeting addressed the outlook of Russian-Israeli cooperation in the oil & gas sector, including in Russian natural gas supplies to Israel, oil & gas field exploration, project planning, on-site infrastructure & UGS facility construction and management, gas pipeline & gas distribution network construction, Gazpromís involvement in the Israeli energy & petrochemical industry.

The parties also pondered on potential cooperation between Gazprom and Israeli firms in the communications (telecommunications inclusive) sector, in particular, reviewing the option of establishing business contacts with the leading Israeli companies Gilat Satellite Networks, RAD Data Communications and Israeli Aircraft Industries.

Reference:

Israelís proved natural gas reserves are valued at 47 bcm. The countryís economy is dependent on energy imports from third countries.

The share of oil, coal and natural gas in Israel's fuel and energy balance accounts for some 67, 30 and less than 1 percent, respectively.

Before 2004, there has been no gas supply infrastructure in Israel. Currently a major domestic natural gas consumer, the power generation sector is forecast to undergo substantial development and, thus, to drive the expected natural gas demand growth. According to the Israeli Natural Infrastructures Ministry, the country's natural gas needs will amount to about 11.5 bcm by 2025.

Israel holds a leading position worldwide in the cutting-edge technology sector.

A leader in the satellite communications equipment production, Gilat Satellite Networks provides 40-50 percent of the global small aperture terminal (VSAT) satellite earth stations.

RAD Data Communications specializes in providing technologies and equipment for the telecommunications and data transmission sector.

Israeli Aircraft Industries is the worldís leading company in military and commercial aerospace technologies.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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