Today, Gazprom’s Headquarters has hosted a working meeting between Alexey Miller, Chairman of Gazprom’s Management Committee and Lord John Browne, President of BP Group.

The parties addressed the outlook for bilateral cooperation, expressing their satisfaction with the progress in the liquefied natural gas supply business.

At the same time, the meeting looked into Gazprom and BP’s collaboration in the European gas market, including into BP’s possible involvement in the construction of an LNG plant in the Leningrad region.

Alexey Miller and John Browne also touched upon issues surrounding interaction in oil & gas extraction, hydrocarbon processing and gas chemicals production in Eastern Siberia and the Far East. The parties agreed to get back to that issue after the Russian Federation Government had given its sanction to the Program on setting up an integrated, gas production, transmission and supply network in Eastern Siberia and the Far East, taking into account potential gas exports to China and other countries of Asia Pacific.

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The world’s largest non-governmental petroleum company, BP possesses oil and natural gas reserves in excess of 1.3 bln t and 1.2 tcm, respectively. BP’s major business lines are oil & gas field development, wholesale and retail trading in refined products, gas marketing and gas power generation, petrochemicals. BP is a leader in the global LNG trade.

The company has branches in more than 100 countries worldwide. In 2004, BP extracted 126.5 mln t of oil & condensate and 87.8 bcm of gas, racking up some US $14 bln of net profit.

BP holds a 50 per cent stake in TNK-BP (Russia) and a 49 per cent interest in the Sakhalin 4 and Sakhalin 5 projects each.