1998
In February, Rome hosted the signing of the Strategic Alliance Agreement between Gazprom and ENI. The parties achieved accords on hydrocarbon resources prospecting and development in the Astrakhan Oblast.
In May, the joint Gazprom - Ruhrgas AG ecological project was awarded with the Prize of the Federal Union of the German Industry. Gazprom accomplished five-year negotiations for natural gas purchase with Ruhrgas obtaining a guarantee on sales of 160 bcm of “blue fuel” in Europe until 2020.
In May, in Moscow Gazprom and Norwegian companies Statoil and Norsk Hydro signed the Protocol of cooperation on the Pechora Sea Continental shelf.
On June 26, the Annual General Shareholders Meeting of RAO Gazprom took place. The elections resulted in choosing 11 members for the Board of Directors. The General Shareholders Meeting reorganized Russian Joint-Stock Company Gazprom into Open Joint-Stock Company Gazprom.
In November, Gazprom and LUKOIL established strategic partnership.
On December 19, Ruhrgas AG purchased a 2.5 per cent stake in Gazprom for US$ 660 mln.
In 1998 the international auditing for 70 per cent of Gazprom’s gas reserves confirming the company’s resource base reliability was finished. The semi-annual internationally accepted Financial Report of Gazprom was published for the first time.