The city of Heiligendamm (Germany) hosted today a meeting of the Coordinating Committee for Strategic Cooperation between Gazprom and BASF SE under the chairmanship of Alexander Ananenkov, Deputy Chairman of Gazprom Management Committee, and Dr. Hans-Ulrich Engel, Member of BASF SE Board of Executive Directors.

The Coordinating Committee members and working group heads delivered reports on the current status of the projects and activities being implemented by Gazprom and BASF SE/Wintershall Holding AG.

It was emphasized that amidst the global economic crisis coordinated steps had to be taken and optimal decisions to be made for successful delivery of projects and enhancement of market positions.

The parties expressed their content with the cooperation progress within the development of the Yuzhno-Russkoye field and Block A1 of the Achimov deposits, Urengoy field.

Wintershall Holding AG presented information relevant to its operations in the Libyan fields.

The parties also discussed the cooperation prospects for the Eastern Gas Program implementation.

The meeting participants highlighted the successful interaction between the companies in gas chemistry, sci-tech cooperation, experience exchange and staff training.

Background:

BASF SE is one of the leading gas and petrochemical companies of the world. Its production activities are performed along the following primary lines: the production of chemicals, synthetic materials, plant protection products, as well as hydrocarbons production and transportation.

Wintershall Holding AG is BASF“s 100 per cent subsidiary operating in the energy sector. Gazprom and Wintershall Holding AG have been collaborating for over 18 years now. The companies have established WINGAS and WIEH joint ventures.

BASF SE is partnering with Gazprom in developing the Yuzhno-Russkoye field and constructing the Nord Stream gas pipeline.

Achimgaz was set up by Gazprom and Wintershall Holding AG in July 2003 on a parity basis. The venture was created for the purpose of developing the first pilot block of the Achimov deposits, Urengoy oil, gas and condensate field.