Alexey Miller and Boris Gromov have signed an Agreement on cooperation between Gazprom and the Moscow Oblast

The Chairman of the Management Committee of Gazprom Alexey Miller and the Governor of the Moscow region Boris Gromov have signed an Agreement today on cooperation between Gazprom and the Moscow region government for 2003. According to the Agreement, Gazprom will supply to the Moscow region consumers 14.9 bcm of natural gas in 2003. Moreover, Gazprom will contribute to funding construction of gas supply facilities of high social significance. Gazprom is planning to assign for the purpose RR 100 million out of the amount of the region consumers’ indebtedness.

The Company will invest RR 1,143 million in reconstruction of a number of sections of the circular gas pipeline in the Moscow region.

Within the framework of the Energy Saving in the Moscow region in 2002 – 2005 targeted program Gazprom will participate in elaboration of measures aimed at increasing the natural gas utilization efficiency.

In its turn, the government of the Moscow region will continue efforts to settle the indebtedness of consumers financed from the oblast budget; the oblast government will promote conclusion of an agreement between the Company and municipal bodies on restructuring the debt for gas delivered and secure debt repayment in the amount of RR 480 million.

The government of the Moscow region will compensate the Company for the revenue lost due to the privileges granted to consumers when paying for gas in the amount of RR 92.8 million.

Gazprom and its affiliates will be rendered assistance in technical stock-taking of the real assets and in the state registration of rights to them, in execution of official registration of rights to land plots as well as in acceptance into municipal ownership the social, cultural and consumer service facilities in Volokolamsk, Leninsk, Lukhovitsy, Noginsk, Solnechnogorsk, Khimki, Shchelkovo areas.

Current level of payments for gas delivered to the consumers in the Moscow region amounts to 95.3%.

Consumers’ indebtedness in the Moscow region has been reduced by RR 294 million since the beginning of 2002 and as of January 1, 2003 it amounts to RR 4055.3 million. The indebtedness resulted mainly from non-payments on the part of local population and municipal services.

Information Directorate, OAO Gazprom

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