OREANDA-NEWS. April 16, 2015. The Board of Directors approved amendments to the Remuneration Procedure for Gazprom Board of Directors Members with due regard to the methodological guidelines on applying key performance indicators developed by the Russian Ministry of Economic Development and the Federal Agency for State Property Management (Rosimushchestvo).

The Board of Directors ratified Gazprom’s provision of the guarantee for securing obligations of Gazprom Marketing & Trading Singapore for the benefit of Yamal Trade in compliance with the sales and purchase contract for liquefied natural gas from the Yamal LNG project.

Background

In January 2015 Gazprom Marketing & Trading Singapore owned by Gazprom Group and Yamal Trade signed a long-term sales and purchase contract for liquefied natural gas (LNG) from the Yamal LNG project. The contract provides for the annual supply of 2.9 million tons of LNG. The contract will be effective for over 20 years.