A Board of Directors’ meeting is being held at Gazprom’s Headquarters.

The Board of Directors took into account information on the progress in implementing the Project on the International Consortium for managing and developing Ukraine’s gas transmission system.

Reference:

The Project on the International Consortium for managing and developing Ukraine’s gas transmission system, is implemented based on the Intergovernmental Agreement dated 7 October 2002.

The Consortium was established to efficiently use, modernize and develop the Ukrainian gas transmission and underground gas storage systems as well as to securely transit natural gas via Ukraine.

Two major directions of the Consortium’s investment activities include constructing the Novopskov – Uzhgorod gas pipeline and implementing the Ukrainian GTS management concession model.

The paramount investment project to be implemented by the Consortium pursues the objective of constructing the Bogorodchany – Uzhgorod gas pipeline section. For the time being, a set of documents is being elaborated to adopt an investment decision including feasibility study, the Project financing scheme and documentation guaranteeing the gas pipeline loading.

While implementing the 2nd phase of its operations, the Consortium analyzed Ukraine’s legislation and the possibility to produce legal documents supporting the conclusion of concession agreements in the gas transmission industry as well as prepared proposals to amend the existing Ukrainian legislation.

DIVISION OF RELATIONS WITH MASS MEDIA