Gazprom’s Headquarters hosted yesterday a working meeting between Alexey Miller, Gazprom’s Management Committee Chairman and Alfonso Cortina, Repsol YPF’s President.

The parties deliberated on the outlook of Russian gas deliveries to Spain, potential cooperation in LNG supplies to the US market as well development of Gazprom and Repsol YPF’s joint oil and gas projects in third countries.

Reference:

The Repsol YPF international oil and gas company (Spain) is operating in over 28 countries of the world, is leader on Spanish and Argentinian oil and gas markets as well as one of key industry players in Peru and Ecuador. The company’s hydrocarbon production accounts for over 1.1 MMboe/d and oil&gas reserves are valued at 5.4 billion barrels. As of April 2004, Repsol YPF’s total proved reserves were estimated at 3.7 Bboe in Latin America and 0.4 Bboe in North America.

Repsol YPF is the world’s third company in liquefied gas production (3 mln t/y) and is dealing with natural gas imports, storage, supply and distribution in Spain and Latin America, rendering services to 8.7 mln customers.

Pipeline and liquefied natural gas imports are a larger part of gas supplies to Spain where domestic extraction currently allows to meet only up to 1% of the country’s annual gas demand.

DIVISION OF RELATIONS WITH MASS MEDIA