Gazprom and Komi Republic to further cooperate in building Ukhta – Torzhok 2 gas pipeline

RELEASE

#Documents signed #IR releases

Alexey Miller, Chairman of the Management Committee of Gazprom, and Sergey Gaplikov, Head of the Komi Republic, signed today at the St. Petersburg International Economic Forum 2017 a Cooperation Agreement to implement a number of the Company’s investment projects, including the construction of the Ukhta – Torzhok 2 gas trunkline.

Sergey Gaplikov, Head of Komi Republic, and Alexey Miller signing Cooperation Agreement at St. Petersburg International Economic Forum 2017 to implement investment projects, including construction of Ukhta – Torzhok 2 gas trunkline

Sergey Gaplikov and Alexey Miller signing Cooperation Agreement

According to the document, Gazprom will look into the possibilities of financing the construction, renovation and repair of social infrastructure in the areas affected by the Ukhta – Torzhok 2 project.

Gazprom and Komi Republic to further cooperate in building Ukhta – Torzhok 2 gas pipeline

Ukhta – Torzhok 2 gas pipeline route

The Company plans to use the sci-tech and innovation potential of the Komi Republic to the maximum extent possible in its operating activities. Gazprom also intends to procure services, works, and goods from local small and medium-sized businesses to satisfy the Company’s needs.

When hiring employees for the already-built facilities, Gazprom will give priority to qualified professionals residing in the Komi Republic.

The regional authorities will in turn assist the Company in resolving issues related to investment projects, primarily concerning the establishment of a favorable tax regime, the acquisition of land use rights, and the securing of approvals.

Background

The Komi Republic is a strategic partner of Gazprom. The Company implements a number of strategic projects in the region with the purpose of developing the northern gas transmission corridor within Russia’s Unified Gas Supply System. The Ukhta – Torzhok 2 gas pipeline is one of those projects.