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GAZPROM

October 20, 2004

The results of Alexey Miller, Wulf Bernotat and Burkhard Bergmann working meeting

Today in Dusseldorf, during Gazprom's delegation visit to Germany, Alexey Miller, Chairman of Gazprom's Management Committee, held a working meeting with Wulf Bernotat, Chairman of the Board, E.ON AG, and Burkhard Bergmann, Chairman of the Board, E.ON RUHRGAS AG, Member of the Board, E.ON AG.

The parties continued to discuss future cooperation among the two companies within the framework of strategic projects and according to the Memorandum on mutual understanding between Gazprom and E.ON AG. Natural gas production and electricity generation in Russia were discussed in particular, as well as gas transportation to Europe, natural gas and electricity distribution and sales infrastructure development in Europe.

Reference:

The German E.ON AG is the largest private energy holding company in the world with the annual turnover of more than Euro 46 billion and more than 66,000 employees. The company was established in June 2000 by the merger of two well known companies - VEBA and VIAG.

E.ON Ruhrgas AG (Ruhrgas AG up to 1 July 2004) has been part of E.ON AG since February 2003 and is responsible for the group's natural gas business, including production, sales, transmission and storage of natural gas. Sales volume in 2003 amounted to 640 billion MWt/h and about 58 billion cubic meters of gas. Sales proceeds amounted to Euro 12 billion.

The company operates an extensive gas transmission network of 11,200 km in length. 12 underground storages are part of the network with total active gas volume of 5 billion cubic meters. E.ON Ruhrgas AG is the third largest gas company in Europe.

The foundation for cooperation between Gazprom and E.ON Ruhrgas AG was laid in the beginning of 1970s, when Ruhrgas AG and a number of German industrial companies and banks joined in the implementation of the project of constructing a system of transit gas pipelines for Russian natural gas supplies from Siberia to Western Europe.

E.ON Ruhrgas AG is Gazprom's largest foreign shareholder. It owns about 6.5% of Gazprom's shares.

Russia produced natural gas is supplied by E.ON Ruhrgas AG to Germany and Switzerland on the basis of seven long term contracts. According to these contracts, the maximum supply requirement is 23 billion cubic meters of gas per year. Additional 0.16 billion cubic meters of gas is to be supplied to E.ON Ruhrgas AG in 2003-2004 for sale in the UK market.

Gazprom has been successfully cooperating with E.ON Ruhrgas AG in anti-corrosion protection of gas pipelines, optimization of operation of gas pumping units, dispatching and other areas.

The Memorandum on mutual understanding between Gazprom and A.ON AG was signed on July 8, 2004. The document stipulates the agreements on further cooperation development in the framework of joint strategic projects.

DIVISION OF RELATIONS WITH MASS MEDIA

 

 

 

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