The Management Committee heard a report on the progress with developing the general principles for foreign partners to participate in Gazprom oil and gas projects including those related to asset swaps.

The Management Committee ordered to continue the said work with due regard of the changing situation on the global energy market.

The participants underscored that the attraction of foreign partners to Gazprom projects could be viewed as an efficient mechanism for the Company to meet its strategic challenges, particularly to reinforce the vertical integration of Gazprom business. The major criterion for the Company is coming up with an additional economic effect in comparison with the situation “without a deal”.

Reference:

In the competitive environment of the international oil and gas market Gazprom should be engaged both on its own and in partnership with international corporations in tenders, geological exploration and asset acquisitions in the fields and infrastructure projects currently in operation.

The aims of attracting foreign partners:

• obtaining strategically important assets abroad;
• reducing the risks and enhancing the economics of the projects by means of partner technologies;
• boosting hydrocarbon production with minimal risks and capital expenditures.