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Gazprom

July 8, 2005

Results of the meeting of the Coordination committee on cooperation between Gazprom and Siemens AG

The meeting of the Coordination committee on cooperation between Gazprom and Siemens AG (Germany) was held in Moscow on July 7, 2005.

The program of further cooperation between Gazprom and Siemens AG in 2005 was approved. “Offshore Projects”, “Compressor Stations” and “Electric Power Generation” working groups’ reports were presented at the meeting.

The meeting’s participants were briefed on establishing a joint venture between Siemens AG and CJSC Roselectropromkholding. It will be based at the premises of OJSC Zavod Electropult in St. Petersburg, and manufacture electric motors and gas compressing units. The equipment produced will be partially procured by Gazprom. The possibilities of using Russian made magnetic bearings in manufacturing of the equipment were discussed at the committee meeting.

Reference:

Siemens AG, a German corporation, was founded in 1847. It is a world renowned manufacturer of electronic and electric equipment, operating in IT and telecommunications, automation and control systems, energy industry, transport, healthcare services, lighting equipment. The company operates 190 offices worldwide.

The company started its Russian operations in 1853, and currently conducts business in 30 regions of Russia. Siemens AG is one of the leading equipment, services and solutions providers for the Russian economy key sectors’ modernization.

Gazprom and Siemens cooperate since 1993. The key projects already completed are in telecommunications and technological processes automation, including Moscow digital network and Gazsvyaz data transmission network, Kaspiigazprom automatic telephone network, Gaztelekom communications network, and automation of Yamburg gas field's integrated gas treatment facility.

There are a number of projects in the development phase related to automation of gas condensate production and treatment facilities at Yamburgskoye gas field. Other cooperation priorities include automated control systems for the UGTS, telecommunication networks and IT projects.

Gazprom and Siemens AG are jointly developing modern technological solutions in equipment manufacturing in Russia.

In March 2005, Gazprom and Siemens AG signed the Agreement on strategic partnership. The Agreement regulates bilateral cooperation issues, including implementation of Gazprom’s latest projects - the North European gas pipeline, Yuzhno-Russkoye gas field development, gas transmission networks beyond the Russian boundaries, and electric power generation projects.

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