On 9 November 2009 OAO Gazprom issued its unaudited consolidated interim condensed financial information prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting” (IAS 34) for the six months ended 30 June 2009.

The table below presents the unaudited consolidated interim condensed statement of comprehensive income prepared in accordance with IFRS for the six months ended 30 June 2009 and 2008. All amounts are presented in millions of Russian Roubles.

Sales (net of excise tax, VAT and customs duties) decreased by RR 115,415 million, or 7%, to RR 1,639,698 million in the six months period ended June 30, 2009 compared to the same period of the prior year. More detailed information on our sales for the six months ended 30 June 2009 and 2008 is presented in the table below.

Net sales of gas increased by RR 18,241 million, or 2%, to RR 1,107,705 million in the six months ended 30 June 2009 compared to the six months ended 30 June 2008. This increase was primarily due to higher average realized gas prices in RR terms in all geographical segments.

For the six months ended 30 June 2009 net sales of gas to Europe and other countries increased by RR 36,652 million, or 6%, to RR 698,206 million compared to the six months ended 30 June 2008. This mainly results from the increase of average realized prices in RR terms (including excise tax and customs duties) by 25% which was compensated by the decrease of the volume of sold gas by 24%, or 23.5 bcm. In addition the increase in net sales of gas to this geographical segment is achieved mainly by the increase in prices during the first quarter of 2009.

Net sales of gas to FSU countries decreased by RR 2,353 million, or 1%, to RR 161,284 million in the six months ended 30 June 2009 compared to the six months ended 30 June 2008. The decrease of sales in this segment is explained by the decrease of the volume of sold gas by 57%, or 28.4 bcm, which was compensated by higher average realized prices.

Net sales of gas in the domestic market decreased by RR 16,058 million, or 6%, to RR 248,215 million in the six months ended 30 June 2009 compared to the six months ended 30 June 2008. This is explained primarily by the decrease of the volume of sold gas by 11%, or 17.1 bcm, which was partially compensated by the increase in the average domestic price for gas set up by the Federal Tariffs Service.

Net sales of refined products decreased by RR 142,610 million, or 39%, in the six months ended 30 June 2009. The decrease was primarily due to the deconsolidation of the SIBUR Group and the decline in prices for refined products.

In the six months ended 30 June 2009 net sales of crude oil and gas condensate decreased by RR 55,331 million, or 41%. The decrease of net sales of crude oil and gas condensate primarily resulted from the Gazprom Neft activities: net sales of crude oil decreased by RR 47,586 million, or 40%, to RR 72,495 million in the six months ended 30 June 2009 compared to the six months ended 30 June 2008.

Net sales of electric and heat energy increased by RR 74,683 million, or 105%, in the six months ended 30 June 2009. The increase in electric and heat energy sales mainly resulted from operations of Gazprom Germania Group and OAO Mosenergo, and consolidation as subsidiaries of ÎÀÎ WGC-2 and ÎÀÎ WGC-6 (starting from the second half of 2008).

Operating expenses increased by RR 169,268 million, or 16%, to RR 1,207,761 million in the six months ended 30 June 2009 compared to the six months ended 30 June 2008.

Major item whose growth resulted in the increase of the total amount of operating expenses is purchased oil and gas (RR 190,093 million). The cost of purchased gas increased by RR 213,088 million, or 105%, and the cost of purchased oil decreased by RR 22,995 million, or 28%. The increase in cost of purchased gas was mainly caused by the increase in prices for gas from Central Asia and increase in gas trading activities on the European market and respective increase of gas purchases in Europe. This increase was partially compensated by the cost reduction within the following items: taxes other than on income (RR 28,640 million), staff costs (RR 7,955 million), other (RR 21,833 million).

In the six months ended 30 June 2009 our profit for the period attributable to owners of OAO Gazprom totaled RR 296,243 million which is RR 277,514 million, or 48%, lower compared to the six months ended 30 June 2008.

Our net debt balance (defined as the sum of short-term borrowings, including current portion of long-term borrowings, short-term promissory notes payable, long-term borrowings, long-term promissory notes payable and restructured tax liabilities, net of cash and cash equivalents and balances of cash and cash equivalents restricted as to withdrawal under the terms of certain borrowings and other contractual obligations) increased by RR 316,446 million, or 31%, from RR 1,018,346 million as of 31 December 2008 to RR 1,334,792 million as of 30 June 2009. This can be explained primarily by the increase in long-term borrowings and the revaluation of borrowings denominated in foreign currency.