Russia agrees big price increase for Turkmen gas |
|
|
|
Published
:
Tue, 27 Nov 2007 17:33
|
LONDON (Thomson Financial) - Russia has agreed to a substantial increase in the price of gas imports from Turkmenistan, gas monopoly Gazprom said, amid concern that the hike could raise prices for European customers.'The price of gas in the first half of 2008 will be 130 usd and in the second half of 2008 it will be 150 usd,' Gazprom said in a statement, referring to the price per 1,000 cubic metres.The current price paid by Russia is 100 usd per 1,000 cubic metres.The statement came after a meeting in Turkmenistan between Gazprom chief executive Alexei Miller and the Turkmen President Gurbanguly Berdymukhamedov.Press reports have said the expected increase in gas import prices from Turkmenistan could affect the price Gazprom charges its European neighbours as the Russian monopoly prepares to hike export prices next year.In Tuesday's statement, Gazprom 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 reserves means it has to supplement its supplies with imports from ex-Soviet Turkmenistan.European Union customers in turn rely on Russia for about a quarter of their gas supplies.The statement did not say whether the large rise in the price Gazprom pays Turkmenistan would impact European customers.But EU countries have stepped up efforts to diversify their supply sources since a cut-off in supplies to transit country Ukraine last year had knock-on effects for several European countries.Last month German power company EON, a close partner of Russia's, said it would raise gas prices by 3.4-8.8 pct.jlc/rwCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
|
|
|
|
|
|
Print this Story
EU's Piebalgs says Turkmenistan could sell gas directly to Europe 