Meeting of EuRoPol GAZ Supervisory Board held

Yesterday Moscow hosted a regular meeting of EuRoPol GAZ Supervisory Board chaired by Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee.

Representing the Russian party were Nikolai Dubik, Member of the Gazprom Management Committee, Head of the Legal Department; Stanislav Tsygankov, Head of the Gazprom International Business Department; Sergey Emelyanov, First Deputy Director General of Gazprom Export. The Polish party was represented by Michaі Szubski, President of the Management Board of the Polish Oil and Gas Company (PGNiG), Mirosіaw Dobrut, Sіawomir Hinc and Radosіaw Dudziсski – Vice Presidents of the PGNiG Management Board.

The parties addressed issues related to the joint venture operation, paying a particular attention to the tariffs for EuRoPol GAZ services for natural gas transit via Poland, amendments into the Company’s Charter, possible advanced repayment of debts to Gazprom and PGNiG, the completion of the fiber-optic cable laying along the gas pipeline route as well as a number of other issues concerning the current business activities.

The parties reached an agreement to hold the next EuRoPol GAZ Supervisory Board meeting between 11 and 12 September 2008 in Poland.

Background:

The EuRoPol GAZ Transit Gas Pipeline System was incorporated as a joint stock company in September 1993 within the Intergovernmental Agreement on the construction of a gas pipeline system for the Russian gas transit through the Republic of Poland and the Russian gas supply to the Republic of Poland, dated August 25, 1993. The core areas of EuRoPol GAZ’s activities include engineering, construction and operation of the Polish section of the Yamal – Europe gas pipeline.

EuRoPol GAZ is the owner of a 684-km-long Polish section of the Yamal – Europe gas pipeline and five compressor stations, jointly providing for the gas pipeline capacity of some 30 bcmpa.

Gazprom and the Polish Oil and Gas Company (PGNiG) are the major shareholders of EuRoPol GAZ.

In 2007 circa 7 bcm of Russian gas was supplied to Poland.
Information Directorate, OAO Gazprom

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