Gazprom and E.ON AG achieve progress in talks about assets swap

Gazprom and E.ON AG have substantially progressed in the talks about the assets swap providing for E.ON to join the Yuzhno-Russkoye gas condensate field development project and for Gazprom to obtain stakes in E.ON owned assets in Western and Central Europe.

In particular, the parties have identified a list of such assets including power plants in various countries of Western and Central Europe as well underground gas storage facilities.

The listed assets are under evaluation. In case of value imbalance, E.ON will provide additional assets subject to approval.

The delay with the aforesaid procedures did not allow to complete the swap deal before the official commissioning of the Yuzhno-Russkoye field, slated for December 18, 2007.

Information Directorate, OAO Gazprom

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