Gazprom Still Working on Extending Long-Term Contracts for Gas Supplies to Europe

Friday, Nov 21, 2008

Gazprom (RTS: GAZP) is continuing work on extending long-term contracts for gas supplies to Europe, Gazprom Deputy CEO and Gazexport general director Alexander Medvedev said on the sidelines of a gas forum in Moscow on Tuesday.

""In early December, well announce another considerable extension for a large amount"" of gas supplies, he said. Medvedev did not specify which countries are extending their contracts. ""When we extend [the contracts], youll learn about it,"" he said.

Asked how much gas the company would export next year, he said the exact volume remains under discussion. Gazprom could release information on its gas export plans for next year at a press conference in December, he said.

Medvedev confirmed that Gazprom is discussing the possibility of setting up a joint venture with Iran and Qatar. ""Like any complicated project, its still in the early stages. It would be premature to forecast a timeframe for the creation of this joint venture,"" he said.