The two countries have inked long-term gas contracts till 2028, when Russia’s gas imports are expected to reach 90 billion cubic meters, Itar-Tass cited Russian Deputy Minister of Industry and Energy Andrei Reus as saying. According to those contracts, Russia will buy some 50 billion cubic meters of gas from the Caspian country in 2008, which is equal to 86% of the gas exports of the world’s No. 5 gas and oil-rich country. Russia bought more than 41 billion cubic meters of gas from Turkmenistan last year, when the price increased from $65 US per 1,000 cubic meters to $100. During talks with his Turkmen counterpart Gurbanguly Berdymukhammedov in Moscow late April, Russian President Vladimir Putin called for greater energy cooperation. Putin is to pay a seven-day visit to Kazakhstan and Turkmenistan from Wednesday, during which he will attend a tripartite summit between the three heads of states, the Russian presidential press service said Tuesday.
The United States and the European Union have been trying to persuade Turkmenistan to ship gas past Russia via a proposed pipeline under the Caspian Sea. Reus did not rule out the possibility of the pipeline, stretching along the Caspian Sea coast to Turkey. „We don’t limit our partners,” he was quoted as saying. Turkmen gas is currently exported via the Central Asia-Center pipeline, which possesses an annual capacity of nearly 50 billion cubic meters, Itar-Tass said. (people.com.cn)
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
