Gazprom’s delegation is on a visit to the Great Britain.

London hosted today a working meeting between Alexey Miller, Gazprom’s Management Committee Chairman and Jeroen van der Veer, President of Royal Dutch and Chairman of the Committee of Managing Directors Royal Dutch/Shell Group.

The meeting addressed the progress in negotiations on Gazprom’s involvement in the Sakhalin-2 Project and Royal Dutch/Shell’s participation in the project on the development of the Neocomian Formations at the Zapolyarnoye field.

The meeting also addressed potential deepening of cooperation in other oil, gas (liquefied, inclusive) and gas&petrochemistry projects in Russia and third countries. The parties underscored that such cooperation must involve Gazprom’s participation in each phase of the value determination.

Simultaneously, the parties confirmed their intentions to build cooperation based on equivalent and mutually beneficial asset exchange with the view of using comparative advantages of both businesses.

Reference:

Royal Dutch/Shell is the British-Dutch oil and gas firm dealing with hydrocarbon production and processing in 8 countries of the world, including the USA, Kazakhstan, Nigeria, Brazil, Malaysia, Irland, Russia and Canada.

Royal Dutch/Shell Group’s overall production accounts for 240,000 boe/d. Royal Dutch/Shell’s net profit totaled USD 9,419 million, as of 2002-end.

The Shell Sakhalin Holdings Company, a Royal Dutch/Shell subsidiary, controls a 55% stake of the Sakhalin Energy company serving as operator of the Sakhalin-2 Project also being developed by Mitsui Sakhalin Holdings (25%) and Diamond Gas Sakhalin (20%), a Mitsubishi subsidiary. Said Project involves development of the oil Piltun-Astokhskoye and gas Lunskoye fields with the total reserves of some 600 mln t of oil and 700 bcm of gas.

DIVISION OF RELATIONS WITH MASS MEDIA