Turkmenistan, Russia suspend talks on natural gas price

Turkmenistan, Russia suspend talks on natural gas price

Gas-rich Turkmenistan intends to increase gas prices from the current US$65 per 1,000 cubic meters to US$100 starting next month and warned last week that it would cut exports if Gazprom doesn't accept the new price.

Turkmenistan is the second-biggest gas producer in the former Soviet Union after Russia, and its vast gas resources are playing an increasingly important role in the geopolitics of the region.

Gazprom controls the only transit route for Turkmen gas exports to other ex-Soviet states and Europe.

Last week, Miller visited the Turkmen capital, Ashgabat, to renew the contract, but Turkmenistan "categorically refused the offer," according to Turkmen Energy Minister Kurbanmurad Atayev, the AP reports.