OREANDA-NEWS. On 21 December 2006 OAO Gazprom issued its unaudited consolidated interim condensed financial information prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting” (IAS 34) for the six months ended 30 June 2006.

The net debt balance of OJSC “Gazprom” decreased by RR 126,716 million, or 16%, from RR 797,465 million as of 31 December 2005 to RR 670,749 million as of 30 June 2006.

This decrease can be explained primarily by net cash repayments of long-term borrowings from increased cash inflow from operating activities and the effects of foreign exchange rate fluctuations.