24 April 2018

NEW MANAGEMENT OF SHTOKMAN DEVELOPMENT AG

NEW MANAGEMENT OF SHTOKMAN DEVELOPMENT AG An extraordinary General Shareholders Meeting and a Board of Directors meeting of Shtokman Development AG were held on April 24, 2018 in Zug. A new composition of the Board of Directors was elected, as follows: Pavel Oderov, Sergey Kuznets and Vadim Petrenko (all representing PAO Gazprom). Pavel Oderov was elected President of the Board of Directors and on that occasion left the position of the Chief Executive Officer. Grigory Golubnichiy, who has worked as the Director of Shtokman Development AG Branch in Teriberka since 2016, is appointed the Chief Executive Officer. ‘PAO Gazprom maintains interest to the Shtokman project, to developing the Arctic continental shelf in general’, Pavel Oderov noted. ‘Shtokman Development AG has produced a large scope of design and survey documentation, it has established good working relations with the regional authorities, and these assets are sure to be used in the future work’.