The Gazprom Headquarters hosted today a working meeting between Alexander Ananenkov, Deputy Chairman of the Gazprom Management Committee and Sergey Kudryashov, First Vice President of NK Rosneft.

The meeting addressed the progress in implementing the Agreement on Strategic Partnership between Gazprom and NK Rosneft. The parties also discussed the companies’ cooperation in the area of prioritized gas supply to the Russian Federation constituents in the Far Eastern Federal District.

Background:

The Agreement on Strategic Partnership between Gazprom and Rosneft was signed on November 28, 2006 for the period through 2015 with potential five-year extensions.

Pursuant to the Agreement, Rosneft and Gazprom will promote cooperation in hydrocarbon prospecting, exploration, production, transportation and processing; natural and associated gas marketing; electric & thermal power generation and marketing; oil & gas field and power equipment manufacturing; production capacity and infrastructure development; sci-tech, information, environmental, social and staffing support.

The Agreement sets out, inter alia, that the parties are going to jointly participate in competitions and auctions so as to obtain subsurface use rights as well as in joint projects. Rosneft and Gazprom will coordinate their activities and exchange geological information on jointly implemented projects when performing prospecting and exploration activities as well as developing geological and geophysical information databases. At the same time, Gazprom and Rosneft intend to cooperate within projects aimed at creating gas processing and gas chemicals facilities in Eastern Siberia and the Far East.