Gazprom’s Headquarters hosted today a working meeting between Alexey Miller, Gazprom’s Management Committee Chairman and Vagit Alekperov, LUKOIL’s President.

The meeting addressed the implementation of the General Agreement on Strategic Partnership for the period between 2002 and 2005, signed between Gazprom and LUKOIL. A. Miller and V. Alekperov gave a positive evaluation of interaction between the companies under the Agreement, underscoring dynamic deepening of cooperation.

To expand strategic partnership, the parties agreed in December this year to enter into a new cooperation agreement laying special emphasis on potential collaboration between Gazprom and LUKOIL when implementing oil and gas projects in third countries.

Reference:

Cooperation between LUKOIL and Gazprom is based upon the General Agreement on Strategic Partnership for the period between 2002 and 2005, signed in November 2002.

The Agreement identifies key directions of mutually beneficial cooperation between the companies in oil & gas exploration, production, transmission and processing, marketing of oil & gas, their products, chemical and petrochemical output, heat and power generation and marketing, manufacturing of oil & gas and power equipment and other machine-building output, development of production capacities and other infrastructure facilities in the aforementioned sectors as well as intensive introduction of sci-tech, informative, ecological, social and labor force recruitment facilities.

To promote the Agreement, the companies agreed to jointly implement projects on exploration and development of oil and gas fields located in the Yamal-Nenets Autonomous Area (YaNAA), Nenets Autonomous Area (NAA) and the Russian part of the Caspian Sea. The accords reached prescribe joint involvement in tenders and auctions to obtain prospecting and production licences in these regions. Cooperation is also planned to be deepened in marine transportation of oil and gas condensate extracted in the northern YaNAA and NAA.

In July 2003, Gazprom and LUKOIL set up on a par the TsentrCaspneftegaz joint venture to develop the Tsentralnaya structure in the Caspian Sea together with the Kazakhstan-based KazMunaiGaz company. The Tsentralnaya structure is located within the Russian sector of the Caspian Sea, 150 km east of the city of Makhachkala.

In October 2003, Gazprom and LUKOIL signed the Agreement on LUKOIL’s gas deliveries from the Nakhodkinskoye gas field of the Bolshekhetskaya Trough to the YaNAA.

DIVISION OF RELATIONS WITH MASS MEDIA