Today, Gazprom’s Headquarters has hosted a working meeting between Alexey Miller, Gazprom’s Management Committee Chairman and Vagit Alekperov, LUKOIL’s President.

The parties addressed the implementation of the General Agreement on strategic partnership over 2005 to 2014.

In particular, the meeting looked into the implementation of joint oil & gas projects in Eastern Siberia and the Far East.

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Cooperation between Gazprom and LUKOIL is based on the General Agreement on strategic partnership over 2005 to 2014, sealed in March, this year.

Under the Agreement, the parties are intent on jointly implementing oil and gas field exploration and development projects in the Yamal-Nenets Autonomous Area (YaNAA), Nenets Autonomous Area (NAA), Russian sector of the Caspian Sea, Republic of Uzbekistan and other regions. Gazprom and LUKOIL also agree to promote cooperation in oil and gas condensate marine transportation from the northern NAA and YaNAA.

The parties will keep on maintaining existing partnership relations in supplies of hydrocarbon feedstock, production of oil and gas refining output and distribution of spare oil and condensate resources to gas and oil processing facilities located both inside and outside Russia.

In June 2003, Gazprom and LUKOIL created the 50/50 TsentrCaspneftegaz joint venture to develop together with the Kazakh KazMunaiGaz company the Tsentralnaya structure located in the Russian sector of the Caspian Sea, 150 km east of the city of Makhachkala.

In October 2003, Gazprom and LUKOIL entered into a Contract on the latter company’s deliveries of the gas originating from the Nakhodka gas field in the Bolshekhetskaya Depression (YaNAA). In pursuance of the Contract, LUKOIL is committed to providing Gazprom with up to 0.75 and 8 bcm of gas beginning in the IV quarter of 2005 and over 2006, respectively.