ALEXEY MILLER AND FULVIO CONTI MET TODAY TO TALK ABOUT FUTURE CO-OPERATION

Published on Wednesday, 2 April 2008

       Moscow – 2 April, 2008 - Today, OAO Gazprom’s Chairman of the Management Committee Alexei Miller and Enel’s CEO and General Director Fulvio Conti met at the Gazprom’s Head Office, in Moscow.
       The Parties discussed their cooperation in the oil and gas businesses in particular with regards to the further implementation of the joint projects in the gas and power sector in Italy, Russia as well as in third countries.
     
Gazprom is the world’s largest gas company basically focused on geological exploration, production, transmission, storage, processing and marketing of gas and other hydrocarbons. Gazprom possesses the world’s largest natural gas reserves. The Company’s share in the global and Russian gas stocks makes up 17 and 60 per cent, respectively.
Gazprom owns the world’s largest gas transmission system – the Unified Gas Supply System of Russia stretching for 156.9 thousand km.
Gazprom exports gas to 32 countries within and beyond the FSU, and continues reinforcing its positions on conventional international markets. In 2006 the Company sold 161.5 bcm of gas to European countries along with 101 bcm to the CIS and Baltic States.

Enel is one of the leading power companies in Europe. It has built a presence in Russia since 2004. It recently acquired the majority stake in OGK-5, a Russian generation company with 4 power plants in the European Russia with an installed capacity of 8.700 MW. In 2007 OGK-5 produced approximately 40 billion KWh. In partnership with Eni, Enel owns SeverEnergia, a company owning gas fields in the Yamal peninsula and with estimated gas reserves of over 5 billion of barrels of oil equivalent. Through the joint venture Rusenergosbyt, in 2007 Enel sold 35 billion KWh to about 250,000 customers. Thanks to 4 billion euro investments Enel is currently the first foreign vertically integrated player on the Russian power market. In the next 5 years, Enel plans to invest additional 2.2 billion euros in the country.

General | April, 02 2008

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