Video conference Moscow — Murmansk was held on February 7, 2012 between Mr. Dmitry Dmitrienko, Governor of the Murmansk Region and Mr. Alexei Zagorovskiy, Chief Executive Officer of the Shtokman Development AG (SDAG).

At the video conference 2011 activities’ results of Joint Working Groups comprising representatives of the Administration of Murmansk Region and SDAG employees have been summarized.

Significant progress was noted in relation to engagement of the Murmansk Region enterprises in the Project of integrated Development of Shtokman Gas-Condensate Field and specialists’ training to support HR needs of the Project. The parties devoted special attention to discussing results of Joint Working Groups’ activities to use transportation and logistics infrastructure, as well as power supply system of the Region within the scope of the Shtokman Project. The joint work of the Company and the Region to assure environmental protection and ecological safety of the Shtokman Project was also positively evaluated. When discussing tax issues, the SDAG top management has expressed gratitude to the Government of the Murmansk Region for effective cooperation in establishing preferential tax regime for the Project on the regional level.

During the video conference the parties have underlined effectiveness of cooperation between SDAG and the Murmansk Region within Joint Working Groups, and agreed to continue joint activities in the noted areas in 2012.

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