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GAZPROM

August 3, 2005

Gazkomplektimpex and Izhora Pipe Plant ink cooperation Agreement

Valery Golubev, Member of Gazprom’s Management Committee, Head of Gazprom’s Investment & Construction Department and Director General of Gazkomlektimpex and, Igor Kostin, Chairman of the Board of Directors of the Izhora Pipe Plant (IPP) have inked an Agreement on cooperation between the companies for 2006 to 2007.

The parties agreed that meeting Gazprom’s needs in import-substitution 1,020-1,420mm oil and gas pipes was a strategic priority of the mutually beneficial cooperation.

In pursuance of the Agreement, IPP will earmark funds (borrowed inclusive) to construct and bring on-line (in 2006) a 450 thou t/y plant producing single-joint and longitudinal welded pipes having 1,020-1,420mm in diameter and up to 40mm in wall thickness.

Gazkomlektimpex, on its part, will look into potential buying into IPP’s up to 100 thou t of pipes over 2006. Starting 2007, the pipe amount to be purchased will depend on Gazprom’s needs and IPP’s production capacities.

Additionally, the Agreement emphasizes that, starting 2006, IPP will take part in competitive biddings for the supply of large diameter pipes to Gazprom.

A Joint Working Group will be set up to oversee the Agreement implementation.

Reference:

A Gazprom wholly-owned subsidiary, Gazkomlektimpex has been incorporated to organize centralized supplies of materials and equipment to Gazprom’s facilities under construction and upgrading.

Part of the Severstal Group of companies, the Izhora Pipe Plant has been founded to construct a large diameter pipe production facility on an industrial site in Kolpino (St. Petersburg’s suburb).

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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