Gazprom to buy more Turkmen gas - 10 April, 2003

Gazprom's subsidiary Gazexport will buy 5bn-6bn cubic meters of gas from Turkmenneftegaz in 2004, the press service of Gazprom reported. The agreement was achieved at today's meeting of Turkmen President Saparmurat Niyazov and Gazprom CEO Alexey Miller who signed an agreement on cooperation for 25 years.

In accordance with the signed document, in 2005 Turkmen gas exports will advance to 6bn-7bn cubic meters, up to 10bn cubic meters in 2006, 60bn-70bn cubic meters in 2007, 63bn-73bn cubic meters in 2008 and from 70bn to 80bn cubic meters starting from 2009.

The agreement will come into effect on January1, 2004 and expire on December 31, 2028.