The memorandum between the Government of the Kyrgyz Republic and Gazprom open joint stock company (Russian Federation) concerning development of cooperation within privatization of part of the state block of shares of Kyrgyzgaz open joint stock company (the Kyrgyz Republic) about mutual understanding

of October 9, 2008

The government of the Kyrgyz Republic (further - the Government of the KR) and Gazprom open joint stock company (Russian Federation) (further - JSC Gazprom), further referred to as with the Parties,

based on the Agreement between JSC Gazprom and the Government of the KR on cooperation in the gas industry of May 16, 2003,

for the purpose of development of mutually beneficial long-term cooperation in the field of transportation and distribution of natural gas in the territory of the Kyrgyz Republic,

expressed interest and intention to develop bilateral cooperation within privatization of part of the state block of shares of Kyrgyzgaz open joint stock company (the Kyrgyz Republic) (further - JSC Kyrgyzgaz) and agreed as follows.

Article 1

The parties will comprehensively study question and the general principles, possible options and the main conditions of participation of JSC Gazprom in privatization of part of the state block of shares of JSC Kyrgyzgaz, component of 75% of the authorized capital belonging to the Kyrgyz Republic plus 1 (one) share will work (further - the Project).

Article 2

For the purpose of organizational support of accomplishment of Article 1 of this Memorandum of the Party within a month from the date of its signing will create the joint working group on preparation of the detailed approved offers on mutually advantageous project implementation (further - the Working group).

Article 3

Within two months from approval date of structure the Working group will prepare and will submit the Program of actions for study of the general principles and the main conditions of mutually advantageous implementation of the Project for approval of the Parties, having provided in it:

1) preparation by the Government of the KR of the legal conclusion about possibility of implementation of the Project;

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