Ukraine and Turkmenistan discuss gas agreement

Dec 05, 2003 01:00 AM

Yuri Boiko, head of Ukrainian oil and gas monopoly NegtogazUkraini, called on President Niyazov to discuss the details of the 25-years gas supply agreement that Turkmenistan and Ukraine are going to sign early next year.
Boyko confirmed that his company would continue to buy gas from Turkmenistan under arrangements similar to the present system i.e. part payment in cash and part in goods and services.

Niyazov asked Boyko to ensure that the Ukrainian companies working in Turkmenistan under the present Turkmen-Ukrainian gas agreement that receive proportional volumes of gas in compensation for the services they are rendering in Turkmenistan.
Both sides agreed that Turkmenistan and Ukraine were bound together by the gas supply agreement that provides impetus for dynamic economic growth of both the countries.

Turkmenistan and Ukraine would sign 25-year agreement during the visit of President Leonid Kuchma of Ukraine to Ashgabat in February 2004.
It is expected that total volume of thegas committed to Ukraine under the proposed agreement may exceed 1.2 tcm, representing about 5 % of total gas reserves of Turkmenistan. Total value of the agreement may be near $ 50 bn.

Source: News Central Asia
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