The agreements for Gazoenergeticheskaya Kompaniya (GEK) to consolidate the newly purchased power assets will be made with a view to establishing an integrated corporate power assets management system meeting the requirements imposed by the Gazprom Group.

In April 2007 the board of directors of Gazprom endorsed the company’s power generation strategy mainly focused on enhancing Gazprom’s capitalization by boosting returns on equity capital, optimizing Russia’s fuel balance and achieving a synergetic effect in the gas and power sectors. The strategy contemplates setting up a holding company for the consolidation and integration of power assets in the Gazprom Group.