The Board of Directors reviewed the information on the approaches to working out a draft version of the Gazprom Innovative Development Program until 2020.

The Company’s specialized subdivisions were tasked to elaborate the draft Program and to submit it to the Board of Directors for consideration in 2011.

Background:

In January 2010 Russian President Dmitry Medvedev gave the assignments aimed at developing the innovative activities and raising the technological level in companies with state participation.

In accordance with the said assignments Gazprom is getting ready for creating the corporate Innovative Development Program – a document designed for managing and planning the innovative activities over the long term. The Program will contain a comprehensive list of technical, economic, financial and organizational measures to satisfy gazprom’s demand for modern equipment, machinery and technologies.

The Program will cover the entire innovative cycle from an engineering solution development to its industrial application, connect all elements of the Company’s organizational and financial mechanisms related to various stages of the innovative process, as well as regulate the interaction of the parties involved.

Gazprom will elaborate the corporate investment programs and R&D programs with due consideration of the Innovative Development Program.