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

The parties discussed the progress with the Agreement of Cooperation and the Accord on Gasification addressing, in particular, the implementation of geological exploration by Gazprom at the Chayanda oil, gas and condensate field, which is the primary resource base for shaping the Yakutia gas production center as part of the government-supported Eastern Gas Program.

The parties stressed the necessity to closely coordinate Gazprom’s activities in Yakutia with the plans for production and transportation infrastructure development in the Republic within the current and future federal target programs.

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 2007 Order by the Russian Federation Industry and Energy Ministry approved the state-run 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). Gazprom was appointed by the Russian Federation Government as the Program execution coordinator.

It is planned to establish the Sakhalin, Yakutia, Krasnoyarsk, Irkutsk and Kamchatka gas production centers in Eastern Russia.

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

The Chayanda oil, gas and condensate field is located in the Lensky District of the Republic of Sakha (Yakutia). The C1+C2 reserves of the field account for 1.24 trillion cubic meters of gas and 68.4 million tons of oil and condensate.

In August 2009 the town of Mirny hosted a meeting under the chairmanship of Vladimir Putin, Prime Minister of the Russian Federation. During the meeting the issues of the Eastern Gas Program implementation were reviewed and the specific assignments were given surrounding the Yakutia gas production center creation, gas transportation and gas chemical capacities development in the region.