Today, within 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 addressed issues of cooperation in the oil and gas sector, emphasizing that the parties were fully fulfilling their obligations specified in the previously signed contracts for Turkmen natural gas supply.

The parties discussed the possibility of purchasing extra gas in 2006 as well as pondered on projected volumes of Turkmen gas supply between 2007 and 2008.

Reference:

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

Over 2005 Gazexport acquired from Turkmenneftegaz some 4 bcm of gas priced at US $44 per 1,000 cu m.

On December 29, 2005, in the course of Alexey Miller’s visit to Turkmenistan, the parties agreed to boost gas supply to Gazprom up to 30 bcm over 2006, fixing the price of Turkmen natural gas at US $65 per 1,000 cu m starting from January 1, 2006.