EuRoPOL GAZ Supervisory Board meeting results
Release
EuRoPol GAZ Supervisory Board meeting chaired by Alexander Ananenkov, Deputy Chairman of Gazprom Management Committee, was held in Warsaw.
During the meeting, the Supervisory Board approved EuRoPol GAZ investment expenditures for 2006 and reviewed the company’s Management Board’s proposals on operational expenses in 2006.
The Supervisory Board’s members representing Gazprom made assessment of the request to approve the tariff of gas transportation via Poland’s part of the Yamal – Europe gas pipeline submitted by EuRoPol GAZ to Poland’s Energy Regulatory Authority on November 22, 2005. The request contradicts the company’s business plan approved by its shareholders, and the Additional protocol of February 12, 2003, to the intergovernmental agreement between Russia and Poland. The company’s Management Board is authorized to submit to Poland’s Energy Regulatory Authority a tariff request that corresponds to the above mentioned documents’ provisions.
The meeting’s participants also discussed other issues falling within the authority of the Supervisory Board.
Background
Transit Gas Pipelines System EuRoPol Gaz joint stock company was incorporated in September 1993. The company was established within the framework of the intergovernmental agreement on Construction of gas pipelines system for Russia produced natural gas transit via Poland and gas supplies to Poland dated August 25, 1993. EuRoPol GAZ key businesses include design, construction and operation of the Poland’s part of the Yamal – Europe natural gas pipeline.
EuRoPol GAZ owns the part of the Yamal – Europe gas pipeline located in Poland totaling 684 km in length. Current annual capacity of the pipeline is 28 bcm of gas. After Zambruve compressor station is brought on-line, the capacity will reach 32.9 bcm of gas per year.
EuRoPol GAZ’s principal shareholders are Gazprom and Poland’s Oil and Gas Company (PGNiG).
Poland’s annual natural gas consumption is 12 bcm, and 30% of this amount is produced domestically. In 2004, Poland imported 6.3 bcm of Russia produced natural gas.
Information Directorate, OAO Gazprom