Turkmenistan resumes gas exports to Russia

On Monday, April 15, Turkmenistan resumed natural gas exports to the Russian Federation, reported the publication ORIENT, citing a source in Turkmenistan’s Ministry of Oil and Gas.

It is noted that deliveries resumed after a pause in commerce outlined in a 25-year contract signed in 2003 “was taken by Gazprom in early 2016.”

In March 2016, the Russian gas monopoly terminated the contract with Türkmengaz. Gazprom cited a “serious breach of contract” by Turkmenistan and also requested a retrospective revision of Turkmen gas prices from 2010 to 2015.

In 2003, Russia and Turkmenistan signed a 25-year agreement for cooperation in the gas industry. Before the 2008 economic crisis, the Russian Federation was the main buyer of Turkmen natural gas - about 50 billion cubic meters per year. Later, due to the crisis, these volumes decreased to 10 billion cubic meters and, in 2015, to 4 billion cubic meters per year. In July, Turkmenistan declared Gazprom insolvent.

  Turkmenistan, Europe, Russia