Friday, 11 July 2003

TURKMENISTAN SIGNS ANOTHER MAJOR GAS CONTRACT

Published in News Digest

By empty (7/11/2003 issue of the CACI Analyst)

The Turkmen government signed contracts on 11 July with the Ukrainian state gas firm Naftohaz Ukrayina for the sale of 36 billion cubic meters of Turkmen natural gas and with the Russian firm Itera for the sale of up to 10 billion cubic meters of gas in 2004. Both purchasers agreed to the price of $44 per 1,000 cubic meters – the same price agreed to in the 25-year gas deal with Gazprom that was signed in April. The Ukrainian and Itera sales will bring total Turkmen natural-gas sales to more than $2 billion.
The Turkmen government signed contracts on 11 July with the Ukrainian state gas firm Naftohaz Ukrayina for the sale of 36 billion cubic meters of Turkmen natural gas and with the Russian firm Itera for the sale of up to 10 billion cubic meters of gas in 2004. Both purchasers agreed to the price of $44 per 1,000 cubic meters – the same price agreed to in the 25-year gas deal with Gazprom that was signed in April. The Ukrainian and Itera sales will bring total Turkmen natural-gas sales to more than $2 billion. However, as is usual in Turkmen gas deals, half the amounts of the latest deals will be paid in hard currency and half in goods and services. Niyazov also suggested that he and the heads of state of Russia and Ukraine should get together at the September CIS summit to discuss the construction of a new gas pipeline along the shore of the Caspian Sea to carry enough gas to meet existing and future contracts. Niyazov added that the purchasers of Turkmen gas, Gazprom and Naftohaz, should determine the route and financing of the new pipeline. (RIA-Novosti)
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The Central Asia-Caucasus Analyst is a biweekly publication of the Central Asia-Caucasus Institute & Silk Road Studies Program, a Joint Transatlantic Research and Policy Center affiliated with the American Foreign Policy Council, Washington DC., and the Institute for Security and Development Policy, Stockholm. For 15 years, the Analyst has brought cutting edge analysis of the region geared toward a practitioner audience.

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