A working meeting between Alexey Miller, Gazprom’s Management Committee Chairman, and Simon Kukes, YUKOS’ CEO, was held today at Gazprom’s Headquarters.

The parties discussed cooperation prospects between the 2 companies in the gas industry, taking into consideration YUKOS’ plans to develop its gas business. Based on the 2003 results, YUKOS produced 5.65 bcm of gas. The company plans, however, to annually produce 15 bcm of gas by the 2005 year-end, 40 bcm, by 2010 and 50 bcm, by 2015.

“To successfully implement our gas business development plans, we intend to actively promote relationships with Gazprom. Closely cooperating with the gas industry leader, we’ll be able to achieve the targeted indices,” – said S. Kukes in a statement.

“We strive to promote open dialogue and cooperation with all the independent gas suppliers. At the same time, we do realize that such cooperation can only be based on civilized principles. I’ am referring to the introduction of long-term gas sales contracts, participation of independent gas producers in upgrading the existing and creating new gas transportation capacities, improvement of the regulations granting access to the gas transportation system, which envisage bilateral obligations to provide and pay for gas transportation. All the market players should have not only equal rights, but obligations as well. Provided this condition is fulfilled, we’ll be able to develop a civilized gas market,” – stated Alexey Miller, Gazprom’s Management Committee Chairman.

DIVISION OF RELATIONS WITH MASS MEDIA