The Board of Directors meeting is being held at Gazprom Headquarters.

The Board of Directors acknowledged information for Gazprom international economic strategy in terms of strengthening the transit role of Turkish Republic.

The Board of Directors entrusted to continue work towards examining expansion opportunities of Russian gas export to Europe via Turkey.

Reference:

Gazprom has a leading position on markets of South Eastern Europe including Turkey which is on the third place (after Germany and Italy) in terms of Russian gas volume supplied.

One of the most important strategic goals for Gazprom is to hold strong positions in the region. The Company provides continuous project monitoring for natural gas transportation to Europe via Turkey and studies opportunities of implementing gas delivery projects to European markets with expansion of the Blue Stream Offshore Gas Pipeline. It is referred to construction of new South Russian gas export route to Europe. Along with existing export directions it will significantly increase reliability and flexibility of Russian gas deliveries.

In July 2006 Gazprom and Hungarian company Mol set up a joint project company aimed at defining gas delivery route to Europe via Turkey.