The Board of Directors meeting has adjourned at the Company's headquarters.

The Board of Directors addressed the information on the action plan to consolidate Gazprom's positions in the markets of Europe, Asia and North America as well as on the plans to enter new markets.

The Gazprom Management Committee was tasked to arrange the ongoing work:

• to strengthen the Company's position in exporting its products to the European and other international markets by increasing the competitive capacity of Russian gas in the current market environment;
• to enter new markets as part of geographical diversification of supplies as well as to arrange pipeline gas export to Asia-Pacific;
• to raise the share of liquefied natural gas (LNG) in export supplies of Russian gas;
• to provide for timely implementation of the Shtokman project, to expand gas liquefaction capacities in Russia's Far East as well as to select promising international LNG projects for participation or obtaining rights to product sales.

The Company's Management Committee was tasked to report on the progress in the program implementation in the 4th quarter of 2011.

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