A working meeting took place yesterday at the Headquarters of Gazprom between Alexey Miller, the Chairman of the Management Committee, and Igor Makarov, ITERA, the Chairman of the Directors’ Board.

The parties discussed the problems of ITERA – GAZPROM cooperation in frames of the existing contracts and agreements as well as the prospects for further collaboration in 2004.

“We are prepared for further development of business cooperation with the ITERA company on the basis of distinctively defined principles. GAZPROM welcomes an open dialogue with all independent gas producers”, noted Alexey Miller.

Reference:

GAZPROM and ITERA are partners in natural gas production in the Russian Federation and delivery of gas realized by ITERA at domestic and foreign markets through the gas transmission facilities of GAZPROM.

Under agreement with GAZPROM, ITERA plays an active part in hydrocarbons supply to the CIS and Baltic states.

GAZPROM and ITERA are the stakeholders in the Baltic national gas companies AO Latvijas Gaze and AO Eesti Gaas.

GAZPROM and ITERA are the co-founders of the ArmRosgazprom joint stock company involved in natural gas supply, transmission and distribution and gas mains servicing in the Republic.

The Beregovoye gas field was put on stream in May 2003. The annual production capacity of the field amounts to 11 bcm and the reserves, to 324 bcm of natural gas. At present GAZPROM and ITERA are negotiating the prospects of the Beregovoye gas field cutting into the gas main network.

DIVISION OF RELATIONS WITH MASS MEDIA