Yesterday, at Gazprom’s Headquarters, Alexander Ananenkov, Deputy Chairman of the Company’s Management Committee convened a joint meeting of Gazprom’s Emergency Commission and Civil Protection Office.

The meeting addressed protection in emergencies of workforce and tangible assets of newly founded Gazprom-equity companies during peace and war time.

Due to the commencement of the 2nd stage of Gazprom’s intra-corporate restructuring, the Company’s business units were tasked with stepping up a range of measures aimed at mutual integration of protection & security systems at existing and new companies with Gazprom’s shareholdings. At the same time, the parties outlined the need to maintain the protection level reached.

The meeting laid special emphasis upon SIBUR, taking into account the foundation of a new joint-stock firm. The parties heard and generally approved proposals on the rules of SIBUR’s joining the Gazprom’s corporate civil protection system unifying the management bodies, forces and instruments of civil protection and industry emergency detection & elimination system.

Reference:

Almost 100%-owned by Gazprom, SIBUR is the largest Russian producer of petrochemical output including rubbers, tires, polymers and liquefied gases.

On 2 February 2005, Gazprom’s Board of Directors endorsed the SIBUR’s development strategy for 2004 to 2011, adopting a resolution to clear the latter’s arrears to the Gazprom Group of companies through the shares of the newly established joint-stock company.

To be a Gazprom wholly-owned subsidiary, the new firm is proposed to obtain control over all the liquid assets of the existing SIBUR company, to be formally exempt from its liabilities, to have no negative credit record and to count on the capacity to operate without Gazprom’s financial arm. At the same time, the old SIBUR company will continue its activities as financial operator, will furnish feedstock to and process it at the new firm’s facilities and sell said output until fulfils its commitments to financial organizations.

DIVISION OF RELATIONS WITH MASS MEDIA