Today, in the course of the working visit of Gazprom’s delegation to Turkmenistan, Alexey Miller, Chairman of Gazprom’s Management Committee has met with Saparmurat Niyazov, President of the Republic of Turkmenistan.

The meeting discussed issues of cooperation in the oil & gas sector. The parties confirmed that they would fully fulfill their commitments under the previously signed contracts for the supply of Turkmen natural gas. Under the contract for 2006, Gazprom will purchase 30 bcm of gas from Turkmenistan at the price of US$ 65 per 1,000 cu m.

The parties also pondered on the terms for gas supply within 2007 under the long-term contract as well as on the possibility of acquiring this year extra gas volumes. The Turkmen side offered Gazprom to buy gas for US$ 100 per 1,000 cu m. Since the parties didn’t reach an agreement, the talks were suspended.

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Russia and Turkmenistan entered into a 25-year Agreement for cooperation in the gas industry on April 10, 2003. In conjunction with the Agreement, Gazexport, a Gazprom wholly owned subsidiary, and the Turkmenneftegaz gas transmission company concluded a long-term Contract for the Turkmen natural gas purchase and sale.