RIA OREANDA
Economic News
October 27, 2006 Friday

Board of Directors Approves Acquisition of Additional Shares in
Armrosgazprom

Moscow. OREANDA-NEWS. The Board of Directors of Gazprom approved
Gazproms acquisition of additional shares in ArmRosgazprom.

As a result, the share of Gazprom in ArmRosgazprom will grow from 45
to 58 per cent.

ArmRosgazproms major business line is natural gas supply to Armenias
internal market. In addition, ArmRosgazprom is engaged in natural gas
transmission, storage, processing, distribution and marketing, gas
transmission system and UGS facility upgrading and expansion in the
Republic of Armenia.

The Board of Directors also agreed on Gazprom (UK) Ltds acquisition
of shares in UrdanetaGazprom-1 S.A. and UrdanetaGazprom-2 S.A.
(Venezuela).