The Board of Directors took note of the information concerning Gazprom's participation in the power industry development in Russia, CIS and internationally.

The Management Committee was tasked to continue researching the European power markets and identifying the ones that would be advantageous for Gazprom's projects.

Background:

Gazprom is the Russian power industry leader in terms of total installed capacity (36 GW or 16 per cent of the total installed capacity of the Russia's energy system including the nuclear and hydropower sectors).

Gazprom Group holds controlling stakes in Mosenergo, TGC-1, WGC-2 and WGC-6. These four companies are the Group's basic power generating assets.

The Company is also a most prominent investor in the Russian power industry. Gazprom commissioned 1.9 GW of new capacities since its entry into the domestic power industry in 2007.

Between 2010 and 2016 Gazprom Group's power generating companies will add around 20 per cent to the installed capacity, thus increasing it from 36 GW to more than 42 GW.

Gazprom Group participates in international power generation projects: Kaunas Heat and Power Plant and Hrazdan Thermal Power Plant in Lithuania and Armenia respectively.