Russia, Turkmenistan to complete gas price talks by July: report

0 Comments | AFP, June, 2008

MOSCOW (AFP) — Russia and Turkmenistan could complete talks on a new price for next year's imports of Turkmen gas by July, the deputy chairman of the board of Russia's gas monopoly Gazprom said Saturday.

"We are ready to complete (the talks) if Turkmenistan is ready -- this goal is easily obtainable," Alexander Medvedev said as quoted by the Interfax news agency.

The current price paid by Russia is 130 dollars per 1,000 cubic metres in the first half of 2008 and 150 dollars in the second half of the year.

Gazprom agreed to the steep hike in gas prices last year, but said that from 2009 Russia would buy gas from Turkmenistan at a rate determined by "market principles."

While Russia holds the world's largest gas reserves, lack of development of those...