Gazprom and Turkmenistan agree on gas price

Barbados News.Net
Friday 25th July, 2008

Russian gas giant Gazprom has signed an agreement with Turkmenistan raising the price it pays for gas from the Central Asian nation.

While the price has not been specified, it is believed the deal will begin in 2009.

The deal has apparently established market price for long-term gas purchases.

Turkmenistan has previously called for Gazprom to pay market prices for its gas, asking for more than double the US$150 per 1,000 cubic metres that Gazprom currently pays.

The current price is far lower than the price Gazprom charges its European customers of almost 400 dollars per 1,000 cubic metres.

Gazprom buys gas from Turkmenistan and resells it to other countries.

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