Gazprom to buy 29 bn cm of Central Asian gas in 2011
Oct 05, 2011 12:00 AM
Russian Gazprom plans to buy 29 bn cm of Central Asian Gas from Uzbekistan, Kazakhstan and Turkmenistan in 2011.
The total is 10 bn cm less than planned originally.
Until 2008, Gazprom was buying 50-60 bn cm of Central Asian gas for a below-market price of $ 110 per tcm, but in 2008 the countries started requesting European prices.
This year Gazprom will pay approximately $ 293 per tcm (a total of $ 8 bn) to Central Asian countries. Turkmenistan is selling gas to China for $ 160 per tcm, while European countries pay more than $ 300 per unit.
