Alexey Miller, Chairman of the Management Committee of Gazprom and Oleg Dubina, Chairman of the Board of NAK Naftogaz Ukrainy entered into an Agreement to develop the relations in the gas sector.

In conformity with the Agreement, from March to December 2008 Ukraine will be supplied with gas from Central Asia in the amount of no less than 49.8 bcm priced at USD 179.5 per 1,000 cu m. The gas will be purchased at the Russian – Ukrainian border by NAK Naftogaz Ukrainy. At the same time, 5.2 bcm of Central Asian gas supplied during January – February will be confirmed by relevant documents and fully paid up as per contracts with RosUkrEnergo and UkrGazEnergo.

In addition to gas volumes from Central Asia, Naftogaz Ukrainy will enter with RosUkrEnergo into a sale and purchase contract for Russian gas supplied to Ukraine during January and February 2008 at the basic price of USD 315 per 1,000 cu m (these gas deliveries may be settled through the recovery of the respective gas volumes).

From April 1, 2008, a Gazprom subsidiary or affiliated company will annually effectuate direct gas deliveries to Ukrainian industrial consumers in the volume of no less than 7.5 bcm.

The talks over the terms of gas supply to Ukraine in 2009 and subsequent years will proceed with regard of Central Asian gas prices.