PRESS RELEASE

Malabo – 27th September, 2006

 

Gazprom, Suntera and Sonagas sign Cooperation Agreement on Development of Liquid Natural Gas Hub in Equatorial Guinea

 

The Government of the Republic of Equatorial Guinea and Gazprom are pleased to announce that on 22 September 2006, Gazprom, Suntera and Sonagas signed a cooperation agreement to jointly explore means of supporting the rapidly growing gas and Liquid Natural Gas (LNG) business in the Gulf of Guinea.

A senior delegation from the Gazprom-Suntera consortium met with Teodoro Obiang Nguema Mbasogo, President of Equatorial Guinea, Atanasio Ela-Ntungu Nsa, Minister of Mines, Industry and Energy, Gabriel Nguema Lima, Vice Minister of Mines, Industry and Energy and Juan Antonio Ndong, the Director of Sonagas in order to discuss a wide range of areas for future cooperation in further developing Gas Infrastructure, Power Generation, LNG in the Gulf of Guinea area and related education and training facilities in Equatorial Guinea.

The agreement reflects a renewed Russian interest in the sub Saharan region following Russian President Vladimir Putin’s recent trip to South Africa. The Russian delegation emphasised its desire to develop deeper links with the region and to encourage further partnerships in the future to harness the natural resource wealth of both regions.

Commenting on the agreement, Alexander Medvedev, Deputy Chairman Gazprom said: “The combination of our knowledge and expertise will significantly help to develop Equatorial Guinea’s expanding liquid natural gas hub and will strengthen the existing ties between our two countries.

Gabriel Nguema Lima, Vice Minister of Mines, Industry and Energy said: “We are very pleased to expand the range and quality of investors in our energy business and look forward to working closely with the Gazprom-Suntera consortium”.