The Gazprom Headquarters hosted today a working meeting between Alexander Ananenkov, Deputy Chairman of the Company’s Management Committee and Vyacheslav Shtyrov, President of the Republic of Sakha (Yakutia).

The parties noted the positive momentum in the relations between Gazprom and the Republic of Sakha (Yakutia) within the Cooperation Agreement and Gasification Accord.

A focus fell on the implementation in Yakutia the state Eastern Gas Program – setting up the Yakutsk gas production center, prospects for developing gas processing capacities as well as creation of the Yakutia – Khabarovsk – Vladivostok gas transmission system.

The parties also addressed the issues surrounding the implementation of the investment project for developing South Yakutia.

Background:

Gazprom and the Republic of Sakha (Yakutia) entered into the Agreement of Cooperation in July 2007 and into the Accord on Gasification in June 2008.

The September 3, 2007 Order by the Russian Federation Industry and Energy Ministry approved the Development Program for an integrated gas production, transportation and supply system in Eastern Siberia and the Far East, taking into account potential gas exports to China and other Asia-Pacific countries (Eastern Gas Program). In June 2007 the Program was approved by the State Commission for the Fuel and Energy Complex and Mineral Resource Renewal. Gazprom was appointed by the Government of the Russian Federation as the Eastern Program coordinator.

In accordance with the Russian Federation Government Directive of April 16, 2008 Gazprom, as the owner of the Unified Gas Supply System, was entitled to the license for the Chayanda oil, gas and condensate field.

The Chayanda oil, gas and condensate field is situated in the Lensk region of the Republic of Sakha (Yakutia). The field’s C1+C2 reserves make up 1.24 trillion cubic meters of gas and 68.4 million tons of oil and condensate.

The Russian Government adopted by the Directive #302-r of March 10, 2009 the investment certificate for the comprehensive investment project permitting to elaborate the project documentation on South Yakutia development.