DUSHANBE, July 29, 2008, Asia-Plus – Russian gas giant Gazprom has signed an agreement with Turkmenistan raising the price it pays for gas from the Central Asian nation starting in 2009, a company spokesman told AFP on Friday.
“There will be a price increase from next year, but for now I can not specify the exact amount,” the spokesman said.
The agreement was signed after a visit to Turkmenistan by Gazprom chief executive Alexei Miller, the company said in a statement.
The deal establishes “the principle of market-based price formation in the framework of long-term gas purchases in Turkmenistan,” Miller said in the statement, calling it a “significant step” for the two sides.
Turkmenistan has previously called for Gazprom to pay market prices for its gas, asking for more than double the 150 dollars (95 euros) 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, such as Ukraine.
Gazprom also said it had also reached agreements with Turkmenistan on investing in its gas infrastructure.
