JSC Gazprom Neft gains a tenant right for construction of 30 filling stations in Saint-Petersburg

JSC Gazprom Neft gains a tenant right for construction of 30 filling stations in Saint-Petersburg

Moscow, July 7, 2006. OJSC Gazprom Neft wins an auction held on the 7th of July in Saint- Petersburg and gets a tenant right for 30 constructible sites for building of filling stations. The tenant right is sold in a single lot for $11.926 mln.

The sites are located within the city boundaries and add to 11 filling stations in Saint-Petersburg owned by the Company.

The tenant right for the sites is assigned to Gazprom Neft for 2 years under the condition of building the filling stations. After the building completion, the city will lease the sites to Gazprom Neft for the period of 49 years with a subsequent right of redemption.

The filling stations will operate under the brand of Gazprom Neft.

"The North-West is a strategically important region for our Company. Gazprom Neft intends to still further expand its presence both in Saint-Petersburg and the region including development of its own network of filling stations. In the nearest future we plan to build about from 30 to 50 new filling stations both in Saint-Petersburg and Lenigrad region. Thus we are going to take a drastic part in Saint-Petersburg's tenant right auctions", - said Gazprom Neft President Alexander Ryazanov.