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GAZPROM

April 15, 2005

Gazprom’s delegation travels to Turkmenistan

Led by Alexey Miller, the Company’s Management Committee Chairman, Gazprom’s delegation has undertaken today a business trip to Turkmenistan.

In the course of the trip, Alexey Miller met with Saparmurat Niyazov, President of the Republic of Turkmenistan. The parties addressed matters relative to the implementation of an Agreement for cooperation in the gas business and a long-term gas-supply-to-Russia Contract as well as to gas deliveries over 2005 through 2006.

The meeting underscored the satisfactory results of cooperation, appreciating the top level of interaction in the gas business.

Alexey Miller and Saparmurat Niyazov agreed to keep on strictly abiding by the existing agreements and contracts, for gas pricing over Russia inclusive.

The 2005-2006 mutual commitments will be fulfilled without exception.

In accordance with the preset schedule, the gas pricing formula for 2007 to 2028 will be identified in the middle of next year.

Reference:

Russia and Turkmenistan entered into a 25-year Agreement for cooperation in the gas industry on 10 April 2003. Within the Agreement, Gazexport, a 100% Gazprom subsidiary, and the Turkmenneftegaz gas transmission company concluded a long-term Turkmen natural gas purchase and sales contract effective through the Agreement expiry date.

In pursuance of the Contract, Gazexport acquired some 5 bcm of gas from Turkmenneftegaz in 2004, with some 6-7, up to 10, to 60-70 and from 70 to 80 bcm slated for 2005, 2006, 2007 and starting 2009, respectively.

Turkmen gas is supplied via the Central Asia – Center transit gas pipeline network going through Uzbekistan, Kazakhstan and Russia. In accordance with inter-governmental agreements, Gazprom transits Turkmen gas via Russia to the Ukraine and serves as operator of Turkmen gas transits via Uzbekistan and Kazakhstan.

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