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Gazprom Neft and Sberbank sign Memorandum of Intent

Press-release Partnership

Gazprom Neft and Sberbank have used the opportunity of the St Petersburg International Economic Forum to sign a Memorandum of Intent. The document was signed by Gazprom Neft CEO Alexander Dyukov and Sberbank President and Chairman of the Board of Directors German Gref.

The Memorandum confirms both parties’ commitment to collaborating on a programme for the procurement of equipment (with an indicative limit of up to RUB35 billion in value) to be used in the development of infrastructure at Gazprom Neft’s new production cluster on the Yamal Peninsula — the Novoportovskoye oil and gas field — and the subsequent transfer of such equipment to Gazprom Neft under a financial leasing arrangement.

The terms of this agreement envisage both parties agreeing the full terms of collaboration under such programme before the end of 2016, including reaching agreement on the optimum conditions for its implementation through leasing transactions.