Turkmenistan and Ukraine to sign 25-year gas agreement

Jan 09, 2004 01:00 AM

Turkmenistan and Ukraine plan to sign a 25-year agreement for gas supplies in 2007-2032 during an official visit to Turkmenistan by Ukrainian President Leonid Kuchma in the first half of February, a source in the Turkmenistani presidential press service told.
These plans were confirmed during a meeting between Turkmenistani President Saparmurat Niyazov and Ukrainian Ambassador to Turkmenistan Vadim Chuprun.

The press service quoted the Ukrainian diplomat as saying that the Ukrainian government is ready "to develop long-term partnership with Turkmenistan further, based on principles of equality and mutual gain."
Turkmenistan is a major supplier of gas to Ukraine and accounted for 45 % of the Ukrainian gas market in 2003. In turn, Ukraine is a large buyer of Turkmenistani gas.

At the moment, under a five-year contract for 2002-2006, Ukraine annually receives 34 bn -- 36 bn cm of gas from Turkmenistan at $ 44 per 1,000 cm. Ukraine pays for 50 % of this gas in cash and 50 % in goods and services.
As part of this contract the Ukrainian side is implementing a number of investment projects in Turkmenistan, including the construction of a drainage tunnel in Ashgabat, a railway bridge across the Amudarya River, and compressor stations on trunk gas pipelines. Ukrainian companies have also been directed to build an elite residential complex outside Ashgabat.

Source: Interfax Information Services
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