OREANDA-NEWS. April 3, 2009. The Gazprom Headquarters today hosted a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Bernhard Reutersberg, Chairman of E.ON Ruhrgas AG Board of Management.

The meeting deliberated on the prospects for bilateral cooperation paying particular attention to the current interaction between the companies on the international energy markets as well as to the execution of the agreements relevant to E.ON’s entry in the Yuzhno-Russkoye field development project.

In addition, Alexey Miller and Bernhard Reutersberg discussed the progress in constructing the Nord Stream gas pipeline and noted that the rapid project implementation would promote gas supply reliability both in Germany and in other EU states.

Background:

E.ON AG is Europe’s largest private electric power and gas concern. E.ON Ruhrgas AG (before July 1, 2004 Ruhrgas AG) since February 2003 has been a subsidiary of E.ON AG and is responsible for the group’s gas business in Europe, including production, sales, transportation and storage of natural gas.

E.ON Ruhrgas AG is the largest foreign shareholder of Gazprom.

Gazprom and E.ON Ruhrgas began cooperating in the early 1970s. Ruhrgas became one of the first largest buyers of Russian gas in Western Europe.

On February 29, 2008 Gazprom and E.ON AG signed the Memorandum of Understanding on the joint construction and operation of a gas turbine power station near Lubmin (Germany).

On October 2, 2008 Gazprom and E.ON AG signed the Agreement on joint participation in the project to develop the Yuzhno-Russkoye oil and gas field. According to the agreement, E.ON AG will receive 25 per cent minus one ordinary registered share in the charter capital of Severneftegazprom and thus take part in the development of the Yuzhno-Russkoye field. Gazprom will receive 49 per cent in Gerosgaz, which owns 2.93 per cent of the company, giving Gazprom the full property rights to this stake.

E.ON AG also partners with Gazprom to construct the Nord Stream gas pipeline.