OREANDA-NEWS. November 14, 2011. On October, 27 in Moscow the meeting of the Board of Directors of JSC “Transneft” took place. The following members of the Board of Directors participated in it:

Warnig Matthias – Chairman of the Board of Directors of JSC “Transneft”, Managing Director of the company “Nord Stream A.G.”

Vyugin O.V. – Chairman of the Board of Directors of JSC “MDM Bank”

Dergunova O.K. – member of the Management Board of JSC “Bank VTB”

Kalanda L.V. – Vice-President of JSC “Rosneft”, Acting General Director of JSC “Rosneftegaz”

Nekipelov A.D. – Vice-President, member of the Presidium of the Russian Academy of Sciences

Simonyan R.R. – Chairman of the Board of Directors of LLC “Morgan Stanley Bank”

Tokarev N.P. – President of JSC “Transneft”

All the items on the agenda were examined and accepted.

In pursuance of the Request of the First Assistant Chairman of the Government of the Russian Federation I.I. Shuvalov, dated 15.08.2011, directed to the realization of the Request of the President of the Russian Federation #Pr-846, dated 02.04.2011, on decrease of the expenses (costs to production unit) in 2011 the Method of calculation of indicators of decrease of expenses was accepted.

Preliminary calculation on decrease of the expenses on the Investment program allowed, in particular, to evaluate the awaited economy on the projects to be finished in 2011: BPS-2, OPS Purpe – OPS Samotlor in the amount of 10,2%.

As well as that the corrected Investment program for 2011 was affirmed, the information on charity was taken into account, the work on charity was approved. The report on the results of the acquisition activity of JSC “Transneft” for the third trimester of 2011 was taken into account.