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GAZPROM

March 30, 2007

Gazprom and Republic of Adygea sign Agreement of Cooperation

Signing of an Agreement of Cooperation between Gazprom and the Republic of Adygea - 30.03.2007

From left to right: Aslanchery Tkhakushinov, President of the Republic of Adygea and Alexey Miller, Chairman of the Gazprom Management Committee

Today, at the Gazprom Headquarters, Alexey Miller, Chairman of the Gazprom Management Committee and Aslanchery Tkhakushinov, President of the Republic of Adygea signed an Agreement of Cooperation.

The Agreement stipulates the following main aspects of cooperation:

- gasification of the Adygea Republic;

- development and improvement of a stable gas supply system;

- development of capacities to use CNG and LNG as motor fuel;

- development and implementation of gas saving technologies;

- provision of environmental safety and nature conservation;

- development and execution of a program to increase gas consumption metering accuracy;

- creation of a comprehensive automated natural gas consumption and quality measurement system based on existing gas metering units.

The parties will jointly step up measures aimed at improving the Republican energy balance, i.e. rationalizing and vastly using alternative energies.

Pursuant to the Agreement, the Republic will provide full and timely payments for current gas deliveries by budget organizations and will facilitate payment discipline to pay for gas deliveries due to its own financial resources. The Republic will develop and implement the program to provide population with gas metering devices due to budget and other financial resources, local government authorities will set up economically reasonable norms for natural gas consumption without gas metering devices usage.

Gazprom and its subsidiaries will provide reliable natural gas supply for Adygea gas consumers taking into consideration annual gas quotas for Russia, consumer demand and level of payments.

Reference:

The previous five-year Agreement of Cooperation between Gazprom and theRepublicofAdygea was signed in October 2000.

In 2006 Gazprom supplied regional consumers with over 0.5 bcm of gas and roughly the same volume is slated for this year.

TheRepublicofAdygea is currently gasified by 70.2 per cent including 82.3 per cent in cities and towns, and 55 per cent in the rural area. The average rates throughout Russia are at 54, 61 and 36 per cent, respectively.

Between 2004 and 2006 Gazprom invested RUR 62.05 mln to gasify the Republic.20 km of local gas pipelines were constructed to gasify 4 settlements. In 2007 Gazprom plans to commit RUR 30 mln to gasify the Republic and complete the construction of the Pshicho-Khakurinokhabl gas pipeline and start the construction of the Pshyzov-Zarevo gas pipeline.

On its part, the Adygea Republic Government plans to construct 25 km of local gas pipelines, convert 4 heating plans to natural gas and gasify 525 households. RUR 19.6 mln is planned to be committed for these aims.

From January to February 2007 the indebtedness of the Adygea consumers for gas delivered increased up to RUR 118.37 mln and as of March 1, 2007 the indebtedness reached RUR 433.74 mln. The main debtors are the population and organizations of the residential sector.

 

 

 

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