Creation of joint ventures and the promotion of the company's projects in the US

GTL, in partnership with the American company Cal Tech International Inc made a decision that for implementation of planned projects in the U.S.A. and other international projects of the company, the parties must establish a joint venture on the territory of the United States with the provisional title CTI GTL US. As a constitutive contribution GTL will give to the created joint venture a portion of its balance sheet assets, as well as costs incurred for the organization of projects in the United States, Tunisia, Indonesia, Iraq and Iran for their further implementation in the framework of the joint venture. For the preparation and maintenance of financial and investment documentation in accordance with Russian legislation, GTL JSC signed an agreement with the company "Korn-Audit".