The Gazprom Board of Directors took notice of the information on the Company's own production facilities development until 2015.

The Management Committee was tasked to continue work on timely commissioning of the Company's production facilities in order the secure reliable gas supply to consumers.

The Board of Directors meeting highlighted that according to the current domestic and foreign market evaluations, Gazprom Group was forecast to produce up to 570‑580 billion cubic meters of gas by 2015.

Background:

Under the applicable laws, Gazprom provides Russian consumers with a reliable gas supply and exports gas as part of the interstate and intergovernmental agreements.

For the period until 2015 Gazprom has the following priorities for gas production development in the Nadym-Pur-Taz region:

– reaching the target production level in the Kharvutinskaya area of the Yamburgskoye field and the Zapadno-Pestsovaya area of the Urengoyskoye field as well as the Cenomanian deposits of the Zapolyarnoye, Yety-Purovskoye and Yamsoveyskoye fields;

– boosting production from the Achimov deposits of the Urengoyskoye field;

– starting development of the Nydinskaya area of the Medvezhye field and Lower Cretaceous deposits of the Zapolyarnoye and Pestsovoye fields.

The paramount development targets in the new gas producing regions are the Bovanenkovo field on the Yamal Peninsula and the offshore Kirinskoye field in the Sea of Okhotsk.

The gas transmission system will evolve simultaneously with gas production. Over the mentioned period the key gas transmission projects in Russia will include the Bovanenkovo – Ukhta, Ukhta – Torzhok, Gryazovets – Vyborg, Pochinki – Gryazovets and Sakhalin – Khabarovsk – Vladivostok gas trunklines. The Company is also planning to increase the working gas volume and daily throughput capacity of the underground gas storage facilities thus enhancing gas supply reliability particularly during the peak load periods.

In addition, reconstruction and technical re-equipment of the gas production and transmission facilities is envisaged with a view to meet the planned gas production levels and enhance the process and environmental safety of the existing gas transmission system.

In order to develop gasification in the Russian regions, Gazprom will continue implementing the projects on gas laterals and gas distribution stations construction synchronized with annually adopted gasification programs.