20 April 2011

Interfax hosted a press conference by Alexey Zagorovskiy, SDAG Chief Executive Officer

On April 19, Alexey Zagorovskiy, Chief Executive Officer of Shtokman Development AG gave a press conference in Interfax information agency head quarters.

During the meeting with mass media Alexey Zagorovskiy spoke about results of a recently held Board of directors meeting. He informed that the Shareholders approved the two phase flow as the Project technical concept. Moreover, in terms of technical, economical and organizational practicality and integrated FID for production of pipeline gas and LNG will be made before end of 2011.

Alexey Zagorovskiy noted that presently the Company has approved schedules for both periods through integrated FID and through first production supply — pipeline gas in 2016 and LNG in 2017.

The Chief Executive Officer also answered reporters’ questions mainly concerning the accepted technical concept and environmental and industrial safety issues. He underlined that one of the main subjects to be discussed at the next BoD meeting will be the level of the Russian Content in the Shtokman development project.