1998

February

Rome hosted the signing of the Strategic Alliance Agreement between Gazprom and Eni. The parties achieved accords on prospecting and developing hydrocarbons in the Astrakhan Region.

May

The joint environmental project of Gazprom and Ruhrgas was awarded the Prize of the Federal Union of German Industry. The same month Gazprom rounded off five-year negotiations with Ruhrgas for purchasing natural gas, thus securing a sale of 160 billion cubic meters of blue fuel in Europe until 2020.

Gazprom and Norwegian companies Statoil and Norsk Hydro signed in Moscow the Protocol of Cooperation on the Pechora Sea continental shelf.

June

The Annual General Shareholders Meeting of RAO Gazprom was held. The elections resulted in voting 11 Members into the Board of Directors The General Shareholders Meeting reorganized Russian Joint Stock Company Gazprom into Open Joint Stock Company Gazprom.

November

Gazprom and oil company LUKOIL established a strategic partnership.

December

Ruhrgas purchased a 2.5 per cent stake in Gazprom for USD 660 million.

A conducted international audit of 70 per cent of Gazprom's gas reserves confirmed the reliability of the Company's resource base. The same year Gazprom’s semi-annual Financial Report prepared in accordance with international standards was published for the first time.