Issue of Debt

5 November 2014

NOT FOR DISTRIBUTION IN THE UNITED STATES, CANADA or JAPAN

On 5 November 2014 OJSC Gazprom placed Series 36 of loan participation notes in the aggregate amount of USD 700 million

On 5 November 2014 OJSC Gazprom priced Series 36 of loan participation notes in the aggregate amount of USD 700 million. The notes were issued by Gaz Capital S.A., a Luxembourg special purpose vehicle, under Gazprom's EMTN Programme.

Loan participation notes with an annual coupon of 4.3% are due 12 November 2015. J.P. Morgan acted as bookrunner and lead manager with respect to the notes.

The proceeds of the offering will be used to finance a loan to OJSC Gazprom. The proceeds of the loan to OJSC Gazprom will be used for general corporate purposes.

These materials are not an offer for sale of any securities of OJSC Gazprom in the United States. Any securities of OJSC Gazprom may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"). OJSC Gazprom does not intend to register any portion of the offering in the United States or to conduct a public offering of any securities in the United States.

This communication is only being distributed to and directed only at (a) persons who are outside the United Kingdom or (b) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (c) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons mentioned in (a), (b) and (c) together being referred to as "relevant persons"). Any securities mentioned in this communication will only be available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

This document is not a prospectus and, to the extent that it may constitute an advertisement, it does not constitute an offer to sell or the solicitation of an offer to purchase notes or other securities of Gaz Capital S.A. or OJSC Gazprom. Investors should not subscribe for any notes referred to in this document except on the basis of the information contained in the final base prospectus and the final series prospectus and/or final terms relating to the notes. The base prospectus in relation to the Programme was published on 28 October 2014 and a final set of final terms and other documentation as required in relation to the notes each to be published on or around 10 November 2014. Investors will be able to obtain a copy of these documents in accordance with the Prospectus Directive.

Information contained in this press release does not constitute an advertisement or offering of the Notes in Russia within the meaning of Russian securities laws and must not be passed on to third parties or otherwise be made publicly available in Russia. The notes have not been and will not be registered in Russia and are not intended for "offering", "placement" or "circulation" in Russia (each as defined in Russian securities laws).

OAO GAZPROM INFORMATION DIVISION

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Contact phone numbers for mass media Contact phone numbers for investment companies

+7 (495) 719-10-77 +7 (495) 719-34-83

pr@gazprom.ru ir@gazprom.ru