Meeting of EuRoPol GAZ's Supervisory Board and Shareholders held
Release
Warsaw hosted a meeting of EuRoPol GAZ’s Supervisory Board (SC) presided by Alexander Ananenkov, SC Chairman and Deputy Chairman of Gazprom’s Management Committee.
SC ratified a report by EuRoPol GAZ’s Management Board (MB) on the corporate operating highlights, financial report, MB's proposals to the General Shareholders' Meeting on the profit allocation and SC's report over 2004.
SC members took into account information by MB on the issue of concluding a supplementary agreement with PGNiG to operate the first line of a gas pipeline network in Poland. SC also heard a report on the progress in the construction and commissioning of the Ciechanow & Szamotuly compressor stations as well as the state of affairs with the Zambrow compressor station.
Simultaneously, EuRoPol GAZ called to order its regular General Shareholders' Meeting. The Meeting approved MB’s activities, its report on the corporate operating highlights and financial report for 2004. The shareholders also reviewed and endorsed SC's report, adopted a resolution on the profit allocation and approved SC’s performance in 2004.
Background
EuRoPol GAZ Transit Gas Pipeline System was incorporated in September 1993 within the Inter-Governmental Agreement on the construction of a gas pipeline system for Russian gas transit via and Russian gas deliveries to Poland, dated 25 August 1993. EuRoPol GAZ’s major businesses are designing, constructing and operating the Polish section of the Yamal-Europe gas pipeline.
EuRoPol GAZ owns 684 km of the Yamal-Europe gas pipeline in Poland. The current 22 bcm/y pipeline throughput will grow to 28 bcm upon commissioning of the Ciechanow & Szamotuly compressor stations.
EuRoPol GAZ’s major shareholders are Gazprom and Polish Oil & Gas Company (PGNiG).
Poland annually consumes about 12 bcm of gas, including some 30% produced domestically. In 2004, Poland imported some 6.3 bcm of Russian gas.
Information Directorate, OAO Gazprom