BOARD OF DIRECTORS EXAMINES COMPREHENSIVE PROGRAM OF GAZPROM BUSINESS ACTIVITY ON FOREING MARKETS

The Board of Directors’ meeting has adjourned at the Gazprom Headquarters.

The Board considered information on the comprehensive program of Gazprom’s business activity on the foreign markets.

Reference:

The Gazprom strategic goal is to create a global diversified energy company being the world’s leader in the oil and gas sector.

The main issue for success in achieving the stated goals is to implement a complex method to organize Gazprom’s business activity on foreign markets.

The main trends for the Company’s business development are as follows:

• Marketing development and reliability increase for natural gas supply on the traditional markets (providing the existing market positions, diversification of delivery routes, long-term rent of gas transmission capacities, development of the existing transmission systems, participation in underground gas storage in the the European countries);
• Trade and geographical diversification (entering LNG market, expansion of marketing areas (Asia Pacific Region and North America));
• Expanding in new business segments (entering final consumers market, gas business strengthening by projects in the power energy sector, expanding the resource base abroad, and foreign asset management).

The Gazprom strategy stipulates also increase in investment for new gas transmission projects in Europe and other countries.

The said trends implementation will solve a complex issue to increase reliability and flexibility of Russian gas supply, diversify marketing areas as well as delivery and transmissions schemes and, as a result, vertically integrate the Company on the global basis.