A meeting of the Coordinating Committee for Strategic Cooperation between OAO Gazprom and BASF SE was held under the chairmanship of Alexander Ananenkov, Deputy Chairman of the OAO Gazprom Management Committee, and Dr. John Feldmann, member of the BASF Board of Executive Directors, on July 7-9 at the Sochi Grand Hotel Polyana Olympic site.

Coordinating Committee members and heads of working groups delivered reports concerning the current state of affairs within the frameworks of projects and activities being implemented by Gazprom and BASF SE / Wintershall Holding AG.

The two sides expressed satisfaction with the progress of their cooperation in the development of the Yuzhno-Russkoye field, and with ZAO Achimgaz’simplementation of a project to develop Block 1A of the Achimov deposits in the Urengoi field.

The meeting’s participants stressed the successful collaboration between the companies in terms of experience exchange and personnel training, scientific and technological cooperation and gas chemistry.

Wintershall Holding AG furnished information about the progress of the company’s development of deposits on the territory of Libya.

In addition, in the course of the meeting, OAO Gazprom presented a report relating to the implementation of the Eastern Gas Program.

In connection with the change in his line of responsibility within the frameworks of the BASF concern, Dr. John Feldmann vacated his seat of co-chairman of the Coordinating Committee. He will be replaced at this post by BASF Board of Executive Directors member and Wintershall Holding AG Supervisory Board Chairman, Dr. Hans-Ulrich Engel.

Background

BASF SE is one of the leading gas and petrochemical companies in the world. BASF SE’s production activities are performed along the following primary lines: the production of chemicals, additives, synthetic materials and plant protection products, as well as hydrocarbons production and transportation.

Wintershall Holding AG is a 100-percent subsidiary of the BASF concern, operating in the energy sector. OAO Gazprom and Wintershall Holding AG have been collaborating for more than 17 years. The companies have created the WINGASand WIEH joint ventures.

BASF SE is partnering with OAO Gazprom in developing the Yuzhno-Russkoye fieldand constructing the Nord Streamgas pipeline.

ZAO Achimgazwas founded on a parity basis by OAO Gazprom and Wintershall Holding AG in July 2003. The venture was created for the purpose of developing the first pilot block of the Achimov deposits of the Urengoi gas and oil condensate field.