Led by Stanislav Tsygankov, Head of Gazprom’s Foreign Economic Relations Department, the Company’s delegation paid a visit to Brazil, meeting with the top management of Petrobras oil and gas company.

The parties discussed matters in respect to long-term mutual cooperation in the energy sector. A major focus of the meeting fell on interaction in research and technologies, personnel training, gas transmission route development and international projects.

The parties looked into the prospects for Gazprom’s involvement in projects targeted at creating international gas transmission networks in South America, conducting geological exploration, etc.

The parties emphasized the importance of preparing and signing documents on cooperation between the two companies and agreed on the Petrobras delegation’s visit to Moscow in May 2006 for in-depth analysis of Gazprom’s activities surrounding the United Gas Transmission System operation and development.

Reference:

The 5th-largest in Latin America after Venezuela, Bolivia, Argentina and Trinidad & Tobago, Brazil’s proved natural gas reserves account for 330 bcm, with the bulk of the resources located in the Campos and Santos Basins.

The share of natural gas, oil, electricity, coal and nuclear power in Brazil’s energy basket accounts for 8, 45, 42, 4 and 1 per cent, respectively.

In June 2003 the Brazilian Government elaborated a project to develop the domestic gas transmission infrastructure. The project aims at delivering gas (imported inclusive) to Brazilian southeast and northeast regions.

Established in 1953 and with the shares listed on the New York Stock Exchange, Brazil's leading state-run oil and gas company Petrobras (Petroleo Brasileiro S.A) is a prominent producer and supplier of natural gas to domestic gas distribution companies, possessing state-of-the-art oil & natural gas extraction technologies.