Gazprom Marketing & Trading Boosts UK Retail Strength

LONDON, July 6 /PRNewswire/ -- Gazprom Marketing & Trading (GM&T), the UK based subsidiary of OAO
Gazprom, today (Friday 6 July 2007), announced that it had completed the
acquisition of Natural Gas Shipping Services (NGSS).

The acquisition comes a year after GM&T bought Pennine Natural Gas in
Wilmslow, Cheshire, to gain entry into the UK gas retail market.

Announcing the move, GM&T Chairman Alexander Medvedev, said: 'The
completion of our purchase of NGSS gives us a platform to continue the growth
of a strong retail customer base in the de-regulated UK market. We believe
that our organic growth will drive market competition whilst helping our
customers to manage their energy requirements more cost efficiently'.

Vitaly Vasiliev, GM&T CEO, said: 'This is a very significant development
for us, because we can now invest further in our retail business to allow us
greater growth as well as the ability to bring new energy products to the UK
market. We can now help existing and new customers by providing smart
metering and flexible pricing products, helping British businesses to meet
their own aspirations'.

'GM&T is also launching carbon neutral gas supply and carbon offsets for
energy use enabling our customers to make an important contribution against
the effects of climate change.'

Since Gazprom Marketing & Trading was established in the UK in 2004, it
has grown to over 100 employees and increased its turnover last year to
nearly GBP1.5bn, delivering a profit of GBP23.5 m.

Notes to Editors

(1) Gazprom purchased Pennine Natural Gas Limited in June 2006.

(2) Gazprom supplies gas to the industrial and commercial market in
Great Britain, with 2000 customers at 4000 sites.

(3) NGSS previously provided gas shipping and portfolio management
services for Gazprom's retail business.

(4) Gazprom's retail offices are based in Wilmslow, Cheshire and
employ 16 people.

(5) GM&T's carbon offset products are based on retiring CERs under
the Kyoto Protocol mechanisms.

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