Gazprom has agreed on the major terms of gas supply from Uzbekistan for 2009.

An addendum has been signed to the Uzbek gas supply contract. The document contemplates using a pricing formula based on European gas prices.

Background:

The Agreement on Strategic Cooperation in the gas industry was entered into by NHC Uzbekneftegaz and OAO Gazprom on December 17, 2002. In particular, the Agreement stipulates long-term purchases of Uzbek gas for the period between 2003 and 2012, Gazprom’s participation in natural gas production projects in the Republic of Uzbekistan under the Production Sharing Agreement terms as well as cooperation in Uzbekistan’s gas transmission infrastructure development and Central Asian gas transmission across the Republican territory. Cooperation under the PSA terms in the rehabilitation of gas production from the Shakhpakhty field is a pilot gas extraction project.

On February 5, 2005 Gazprom and Joint-Stock Company Uztransgaz (a sub-holding of NHC Uzbekneftegaz) signed the Mid-Term Agreement on natural gas transmission across the Republic of Uzbekistan over 2006 to 2010. The Agreement pursues the objective of transporting Central Asian, primarily Turkmen, natural gas with the use of the Central Asia – Center (CAC) and Bukhara – Ural gas transmission systems running through the territory of the Republic of Uzbekistan