25 September 2009

Shtokman Development AG and World Wildlife Fund (WWF) sign letter of intent for exchange of information on Shtokman Project phase 1

Shtokman Development AG and the World Wildlife Fund (WWF) met in the SDAG Moscow Office today and signed a letter of intent for exchange of information regarding Phase 1 of the Shtokman Project.

The Letter of Intent provides for bilateral consultations, work meetings, as well as exchange of information and data regarding environmental protection projects and policies.

The document puts a specific emphasis on the fact that environmental protection is one of SDAG’s top priorities and that the company pays most special attention to the environmental aspect of SDAG operations.

Igor Chestin, Head of WWF Russia pointed out: “The present Letter of Intent opens huge opportunities to reduce the burden on the environment as the Shtokman Project progresses. We are very pleased that the project operator Shtokman Development AG is starting consultations with environmental organizations at an early stage. Never before in Russia operating company started such consultations so much in advance. The Arctic is a priority region for us, because of its vulnerable eco-system. We trust that the Shtokman Project will draw a benchmark for all subsequent projects on the Arctic shelf”.

The agreement stands open for all interested Russian non-governmental ecological organizations to join the SDAG — WWF Letter of Intent.