OREANDA-NEWS. December 19, 2007. A Gazprom Board of Directors’ meeting has commenced at the Company’s Headquarters.

The Board of Directors took into consideration the information on the Gazprom preliminary operating results for 2007, and projected Investment Program, Budget (Financial Plan) and Cost Optimization (Reduction) Program for 2009-2010.

The Board of Directors generally endorsed a draft version of the Company’s 2008 Budget (Financial Plan), Investment and Cost Optimization (Reduction) Programs.

It was decided to adjust the above documents with due consideration of the discussion results and approve them by year-end.