The Gazprom Board of Directors took notice of the information about the progress with implementing the Company's Investment Program, Budget (Financial Plan) and Cost Optimisation (Reduction) Program for 2015.
The Investment Program, Budget and Cost Reduction Program comply with the criteria approved by the Board of Directors in December 2014. In addition, Gazprom closely monitors the global economic environment, in particular, the exchange rate volatility and takes it into account while running its business. It was pointed out that despite the exchange rate fluctuations, at the year-end Gazprom would provide a budget surplus as was expected.
Gazprom and BASF have signed a memorandum which anticipates future co-operation in the development of Achimov deposits of the Urengoy field in exchange for equivalent stakes in BASF’s North Sea assets.