A working meeting between Alexey Miller, Chairman of Gazprom’s Management Committee and Vyacheslav Shtyrov, President of the Republic of Sakha (Yakutia) took place today at the Company’s Headquarters.

The parties gave a positive evaluation to the joint efforts aimed at implementing the Cooperation Agreement and the Gasification Accord between Gazprom and the Sakha Republic (Yakutia).

Alexey Miller and Vyacheslav Shtyrov signed an actions plan for the Joint Working Group over 2009-2010. The document defines the terms and the persons responsible for the actions that would ensure timely execution of the Agreement provisions. The document embraces cooperation within the Chayanda oil and gas condensate field development, interaction during construction of top-priority gasification facilities in Yakutia, Gazprom’s participation in the socio-economic development of the Republic’s regions and other projects.

Background:

Gazprom and the Sakha Republic (Yakutia) signed the Cooperation Agreement in July 2007 and the Gasification Accord in June 2008.

In accordance with the Russian Government Directive of April 16, 2008, the license for the Chayanda oil and gas condensate field was granted to Gazprom as the owner of the Unified Gas Supply System.

The Chayanda oil and gas condensate field is located in the Lensky district of the Republic of Sakha (Yakutia). The C1+C2 reserves of the field account for 1.24 trillion cubic meters of gas and 68.4 million tons of oil and condensate.

On March 10, 2009 the Russian Government adopted the investment certificate for the comprehensive investment project permitting to elaborate the project documentation on South Yakutia development.

The Joint Working Group was set up in pursuance of the Cooperation Agreement between Gazprom and the Republic of Sakha (Yakutia) in July 2007. It is focused on preparation of information, proposals and substantiation for taking timely decisions by Gazprom’s management and the Sakha (Yakutia) Government within the Agreement implementation process.