Led by Alexey Miller, Chairman of the Gazprom Management Committee a Gazprom’s delegation is on a working visit to Ukraine.

Within the visit Alexey Miller met with Yulia Tymoshenko, Prime Minister of Ukraine and Oleg Dubina, Chairman of the Board of NAK Naftogaz Ukrainy.

The parties summed up cooperation results for the first half of 2008 and mentioned that the interaction between the two companies is progressing intensively and constructively. Alexey Miller confirmed that in 2008 gas volumes will be supplied to Ukraine in strict compliance with the Agreement to develop the relations in the gas sector. Oleg Dubina emphasized that Russian gas transit via Ukraine was executed in volumes exceeding the planned ones.

The parties discussed issues related to the preparation of a long-term gas supply contract to Ukraine in 2009 and in subsequent years.

Background:

In March 2008 Gazprom and NAK Naftogaz Ukrainy signed an Agreement to develop the relations in the gas sector.

In 2008 Ukraine will be supplied with at least 55 bcm of gas from Central Asia at the price of USD 179.5 per 1,000 cu m. The gas will be purchased at the Russian –Ukrainian border by NAK Naftogaz Ukrainy.

In conformity with the Agreement, starting from May 1, 2008 direct gas supplies to Ukrainian industrial consumers in the amount of 7.5 bcm have been effectuated by a Gazprom’s fully owned subsidiary – Gazprom sbyt Ukraine.