Led by Alexander Medvedev, Deputy Chairman of Gazprom’s Management Committee, Gazprom’s delegation has paid a working visit to Romania.

Within the visit Alexander Medvedev met with Theodor Stolojan, Economic Advisor to the Romanian President, Ioan Codru? ?ere?, Romanian Minister of Economy & Commerce and top managers of the Romanian trading company Conef SA.

The parties pondered on the long-term cooperation between Russia and Romania in the energy & gas sector, placing a focus on projects aimed at creating and developing underground gas storage facilities in Romania and the possibility of boosting Russian natural gas supply to Romania, including extending the contracts on Russian gas deliveries to the Conef SA trading company over 2010 to 2030.

Gazexport and Conef inked a Preliminary Agreement stipulating the conclusion of a long-term contract on Russian gas supply.

The parties expressed a common opinion that signing the long-term secured contract would open new horizons for both the Conef SA trading company and other Russian gas importers & consumers.

Reference:

Russian natural gas has been exported to Romania since 1979. As at May 1, 2006, Romania imported a total of some 106 bcm of Russian gas.

In 2005 Gazexport supplied its Romanian customers with over 4.5 bcm of gas.

Conef SA is part of the international investor & industrial builder Marco Group comprising a top-down aluminum holding company, a number of financial & investment businesses, development companies and other assets on a global scale.

Cooperation between Conef SA and Gazexport began in 2002. The natural gas supplied within this partnership has substantially contributed to meeting Romania’s energy demand. Over the entire period Romania received an excess of 4.5 bcm of natural gas under 4 contracts between Gazexport and Conef SA.