The results of the meeting of the Coordinating Committee for Strategic Cooperation between Gazprom and BASF AG

On March 5, the German city of Munich hosted an ordinary Meeting of the Coordinating Committee for Strategic Cooperation between Gazprom and BASF AG. Alexander Ananenkov, Deputy Chairman of Gazprom’s Management Committee and Co-Chairman of the Coordinating Committee headed the Russian delegation.

The Coordinating Committee members and heads of the working groups presented reports on the progress in the projects and measures implemented jointly with Wintershall AG, a BASF AG’s 100% subsidiary.

The Meeting highly evaluated the work done for promoting joint gas business on European markets. The parties expressed common opinion that given the changes on the European gas market, greater significance should be attached to optimizing gas transmission routes and expanding gas transportation capacities to increase gas supply volumes piped to new sales markets. In particular, the parties emphasized successful cooperation between Gazprom and Wintershall on the British gas market. In addition, the parties considered the possibility to jointly implement new promising projects.

The Meeting paid special attention to implementing the Project on the development of the Achimov deposits of the Urengoiskoye field. The parties discussed the progress in implementing the Project and coordinated further activities necessary to successfully put it into practice. Gazprom and Wintershall acknowledged the need to promptly coordinate the Project financing scheme to ensure commencement of production activities during the 2004–2005 autumn-winter heating season.

Within the frames of cooperation in chemistry, Gazprom and Wintershall conducted strategic dialogue on joint implementation of projects. The parties considered ways of further cooperation and agreed to shortly hold a meeting for drafting and implementing certain projects.

The Coordinating Committee also discussed interaction between Gazprom and Wintershall in experience sharing and personnel training.

Information Directorate, OAO Gazprom

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