Gazprom, Conef Sign Romanian Gas Supply Deal

Meeting Wednesday in Moscow, officials with Gazprom and Conef Energy SRL signed a contract to supply natural gas to Romania during the period 2010-2030. The contract was signed in accordance with a preliminary agreement signed in May 2006 during a Gazprom delegation's visit to Romania.

Under the deal, the annual gas supply volume will reach 2 billion cubic meters and the total gas supply volume with be 42 billion cubic meters.

Russia has supplied gas to Romania since 1979. As of April 1, 2007, Romania had received some 110 bcm of Russian gas.

Conef Energy SRL is a wholly owned subsidiary of Conef SA, which was established in accordance with the new business requirements toward vertically oriented gas markets of Romania and the European Union. These requirements separated the gas business from other activities, allowing it to operate in the gas distribution and marketing sector.

Conef SA is the member of Macro Group (international industrial sector investment group). Macro Group controls vertically integrated aluminum holding and a number of financial and investment companies, along with development companies and other companies in different countries.

Conef SA has been cooperating with Gazprom Export since 2002. The natural gas deliveries provided in the frames of said partnership significantly helped to resolve energy supply problems in Romania. During this period, Conef SA supplied nearly 5 billion cubic meters of Russian gas to Romania.