The Regional Policy Commission of Gazprom has conducted its regular meeting moderated by Valery Golubev, Deputy Chairman of the Company’s Management Committee and Head of the Commission.

The Commission members addressed the interaction of Gazprom’s subsidiaries and specialized subdivisions with regional authorities within the Company’s activities aimed at the Bovanenkovo oil and gas condensate field (OGCF) pre-development, as well as construction of the Bovanenkovo — Ukhta gas trunkline system and the Obskaya — Bovanenkovo railroad.

Particular attention was paid to the land and environment management issues related both to the Bovanenkovo OGCF pre-development and to other Company’s projects on gas production in the areas with challenging natural and climatic conditions.

The Commission members stressed the necessity to develop the unified technique of defining the amount of compensation paid to the Russian Federation constituents, in which fuel and energy production, transportation and infrastructure facilities were constructed. It was noted that the said technique had to be adopted at the legislative level. The Commission entrusted Gazprom’s specialized subdivisions with defining the technique development principles.

Background:

In January 2002 the Gazprom Management Committee identified the Yamal Peninsula as a region of the Company’s strategic interest. The commercial development of Yamal fields will increase local gas production to 310–360 billion cubic meters per annum by 2030. Accessing Yamal is of utter importance for ensuring gas production growth in Russia.

The Cenomanian-Aptian deposits of the Bovanenkovo field are a paramount development target on Yamal. It is anticipated to increase the projected gas production at the Bovanenkovo field from 115 to 140 billion cubic meters per annum in the long term.

In order to deliver the extracted gas from Yamal to the Unified Gas Supply System of Russia, it is projected to build a new-generation 2,500-kilometer-long gas transmission system by 2030 including the new some 1,100-kilometer-long Bovanenkovo — Ukhta gas transmission corridor.

In June 2009 the Gazprom Management Committee identified the third quarter of 2012 as the deadline for bringing onstream the first phase of the Bovanenkovo field with the annual throughput of at least 15 billion cubic meters, and the first string of the Bovanenkovo — Ukhta gas trunkline system.