Headed by Alexey Miller, Chairman of the Company’s Management Committee, a Gazprom delegation today has paid a working visit to France.

During the visit Alexey Miller met with Pierre Gadonneix, Chairman and Chief Executive Officer of Electricite de France (EDF). The parties discussed the prospects for further cooperation in the energy sector, in particular, potential participation of EDF in the construction project for the submerged section of the South Stream gas pipeline.

The meeting participants emphasized the importance and expediency of executing this infrastructure project. Alexey Miller and Pierre Gadonneix expressed a unanimous opinion that South Stream would diversify the routes of natural gas supply to European consumers and make a substantial contribution to enhancing the energy security of the continent.

The constructive and friendly meeting resulted in the arrangements for preparing an appropriate agreement that could be signed before long.

Summarizing the meeting Alexey Miller noted: “Gazprom is interested in developing long-term mutually-beneficial multi-lateral cooperation with EDF, an acknowledged leader of the European energy market. South Stream, being a strategic project in terms of enhancing reliability and stability of natural gas supplies to Europe, will become the basis for this cooperation.”

Background:

For the purpose of diversifying the Company’s natural gas export routes, Gazprom, in cooperation with ENI, is constructing the pipeline across the Black Sea to the South and Central Europe — the South Stream project.

On May 15, 2009 Gazprom and ENI signed the second Addendum to the Memorandum of Understanding between Gazprom and ENI dated June 23, 2007 on further actions as part of the South Stream project implementation. The Addendum contemplates increasing the throughput of the submerged section of the South Stream gas pipeline from 31 to 63 billion cubic meters of gas a year as well as regulates the gas marketing issues within the project.

Electricite de France (EDF SA) is a European leader in electric power and natural gas production, transmission, distribution and supply. EDF operates 19 nuclear power plants comprising 58 power units; thermal, wind and hydro power plants, as well as transmission and distribution networks.