Moderated by Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee, a meeting of the EuRoPol GAZ Supervisory Board took place in Moscow yesterday.

On behalf of the Russian party the meeting was attended by Nikolai Dubik, Member of the Management Committee – Head of the Legal Department of Gazprom and Sergey Emelyanov, First Deputy Director General of Gazprom export. The Polish party was represented by Michal Szubski, President of the PGNiG Management Board and Miroslaw Szkaluba, PGNiG Vice President for Trade.

The meeting addressed the issues related to the current business operations of EuRoPol GAZ including those associated with filing a request for Poland's Energy Regulatory Office to approve the tariff for natural gas transmission across Poland in 2011.

The Supervisory Council endorsed the operating and investment expenses, the tariff calculation for 2011 and approved a number of the company's corporate contracts.

In addition, the meeting discussed further steps on promoting the Russian-Polish cooperation in the gas sector.

Background:

Joint-Stock Company EuRoPol GAZ Transit Gas Pipeline System was founded in September 1993. The company was set up within the Intergovernmental Agreement on the construction of a gas pipeline system for Russian gas transit through Poland and Russian gas deliveries to Poland dated August 25, 1993. Among the basic activity fields of EuRoPol GAZ are engineering, construction and operation of the Polish section of the Yamal – Europe gas pipeline.

EuRoPol GAZ owns a 684-kilometer-long Polish section of the Yamal – Europe gas pipeline in Poland.

Gazprom and PGNiG SA are the principle shareholders of EuRoPol GAZ.