Today, on a working visit to Turkmenistan Alexey Miller, Chairman of Gazprom Management Committee, met with Saparmurat Niyazov, President of the Republic of Turkmenistan.

In the course of the meeting the parties discussed cooperation issues in oil and gas sectors. The parties expressed satisfaction with partnership development and confirmed that they meet the commitments specified in the long-term contract for Turkmen gas deliveries to Russia up to 2028.

During the session the parties agreed on delivery terms of additional Turkmen gas volumes in 2006 and specified the price and supply quantities in 2007-2009. The price of $100 for 1000 of cubic meters is fixed for the period. Additional gas volumes in 2006 will be 12 bcm. In 2007-2009 gas supplies will amount to 50 bcm per year. The parties agreed on principle of adjustment of gas delivery terms in the next triennial period. The price must not be changed to the end of 2009. By July 1, 2009 the parties will agree on price fixing consistent with price situation changes for long-term gas supply contracts in the European gas markets.

Saparmurat Niyazov specified that meeting commitments for gas deliveries to Russia is a matter of priority to Turkmenistan.

Alexey Miller stressed that in future Gazprom will keep on being the most reliable partner in the gas sector.

The meeting resulted in signing of amendments to the contract.

The parties agreed to organize a session for joint working group to discuss further expansion of cooperation.