On meeting dedicated to Gazprom preliminary operating highlights over 2007 and organization of subsidiaries work related to investment program execution in 2008 through 2010

Alexander Ananenkov, Deputy Chairman of the Gazprom Management Committee moderated a meeting at the Gazprom Headquarters on Gazprom preliminary operating highlights over 2007 and organization of the work by subsidiaries serving as customers for the 2008–2010 Investment Program execution.

Attending the meeting were Vasily Podyuk, Member of the Gazprom Management Committee, Head of the Gas, Gas Condensate and Oil Production Department; Igor Fyodorov, Member of the Gazprom Management Committee, Director General of Gazkomplektimpex; heads and specialists of the core business units of the Company and its subsidiaries.

The meeting underscored that the execution of the Company's goals on gas production increment and gas supply increase additionally due to entering new gas production regions and new sales markets required significant investments. The Company completes developing the Draft Investment Program and Budget over 2008 to 2010, which will be submitted for the approval of the Board of Directors. An important issue of the Draft Investment Program will be a significant growth of capital construction volumes during 2008–2010 in comparison with the current capital construction level.

The meeting discussed issues related to the Gazprom Investment Program execution over 2008 to 2010 including issues relevant to work optimization of subsidiaries-customers in executing Gazprom investment projects within the Company's implemented structural reform. The participants suggested increasing the efficiency of the Gazprom Investment Program execution.

The core business units and subsidiaries were given the relevant tasks.

Information Directorate, OAO Gazprom

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