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GAZPROM

September 28, 2005

Management Committee approves Gazpromís buying into Sibneft

Today, JSC Gazpromís Management Committee has approved the acquisition of a 72.663 percent stake in JSC Sibneft from Millhouse Capital.

The Management Committee also endorsed the purchase of a Sibneft 3.016 percent stake from Gazprombank.

These transactions are pending approval by Gazpromís Board of Directors.

ďWeíve been consistent in meeting the strategic challenge of diversifying our business portfolio and transforming Gazprom into a world-class energy company. The oil business is a core activity of Gazprom. Given the obvious synergy, Gazprom and Sibneftís businesses will enhance Gazpromís operating efficiency both in Russia and global oil & gas markets,Ē Ė declared Alexey Miller, Chairman of Gazpromís Management Committee.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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