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GAZPROM

December 23, 2003

Warsaw hosted EuroPol gaz's Supervisory council and Extraordinary Shareholders' Meetings

On December 18-19, Warsaw hosted EuRoPol GAZís Supervisory Council (SC) and extraordinary General Shareholdersí meeting.

Alexander Ananenkov, the SC Chairman and Gazpromís Management Committee Deputy Chairman, chaired at the SC meeting.

The SC members including Konstantin Chuichenko, Gazpromís Management Committee member and Head of Legal Department, Alexander Medvedev, Gazpromís Management Committee member and Gazexportís Director General, and Stanislav Tsigankov, Head of Gazpromís Foreign Relations Department, also attended the event.

The SC approved relevant supplementary contracts (financing, scheduling and equipment supply) concluded for building the Chekhanuv and Shamotuly compressor stations. The SC recommended EuRoPol GAZís Management Committee to promptly sign the documents for attracting finances to complete the construction of the first Polish line of the Yamal-Europe gas pipeline.

The SC paid particular attention to the provision of the rated throughput of the first Polish section of the Yamal-Europe gas pipeline after the 2 compressor stations are brought into operation. Since the resolution of this issue will directly influence the conclusion of the supplementary gas transportation agreements between EuRoPol GAZ and Gazexport as well as between EuRoPol GAZ and PGNiG. With this in mind, the SC decided to fix the gas pipeline rated throughput for 2002-2004 based on the gas volumes already transported.

EuRoPol GAZís Management Committee reported about the Companyís financial situation, taking into consideration gas transmission tariff rates fixed by the Energy Regulation Department of Poland for 2004. The SC recommended the Management Committee to amend the Companyís Fund Flow Circulation Plan in line with the adopted resolutions.

The SC submitted the issue on altering the Companyís Articles of Association for EuRoPol GAZís shareholdersí approval.

Gazpromís Management Committee Deputy Chairman, Alexander Ananenkov, represented Gazprom at EuRoPol GAZís extraordinary General Shareholdersí Meeting.

Taking into account resolutions taken recently by EuRoPol GAZís SC, the participants suspended decision-making on the Companyís financial activities in 2002 and on the amendments to the Articles of Association until the next Shareholdersí Meeting.

At the same time, EuRoPol GAZís shareholders approved the SCís Report for 2002 and agreed to acquiring land property along the Warsaw-Chekhanuv radio-relay line, to be used for the transit gas pipelines system maintenance.

Reference:

The EuRoPol GAZ company was established for constructing and operating the Polish section of the Yamal-Europe gas pipeline.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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