Zurich (Switzerland) hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Helge Lund, President and Chief Executive Officer of Statoil.

The meeting addressed the prospects for cooperation deepening between Gazprom and Statoil in the gas sector.

The parties discussed issues related to the development of the European and global hydrocarbon markets, the current market environment as well as projected supply and demand for pipeline gas and LNG.

Background:

Statoil's core businesses are oil and gas exploration and production. The company has been producing hydrocarbons in the Norwegian continental shelf for over 35 years and is the pioneer in implementing offshore projects under harsh climatic conditions.

The major shareholder of Statoil is the government of Norway (67 per cent).

Gazprom and Statoil are partners within Phase 1 of the Shtokman gas and condensate field development.

In June 2010 Gazprom and Statoil signed the Sci-Tech Cooperation Agreement. Pursuant to the Agreement, the parties will expand cooperation in such areas as geological exploration, field development, novel technologies and equipment for hydrocarbons transportation, environmental protection of northern seas and territories, energy saving and other areas.