Gazprom files claim against Turkmenistan over gas procurement prices

Fri 24 Jul 2015 08:53 GMT | 12:53 Local Time

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Russia’s Gazprom Export confirmed filing a claim to an arbitration court concerning gas procurement prices in Turkmenistan, the export division of Russian gas holding Gazprom told TASS on Friday.

Gazprom Export applied to the arbitration concerning the dispute of with Turkmenistan’s Turkmengas on the gas price review on June 8. The company will not comment on details of proceedings until their end, the Russian company said, ITAR TASS reports.

Gazprom reduced the gas procurement price for Turkmenistan within the framework of the contract due to declined international oil and gas prices and Turkmenistan does not agree to that, market players said.

According to Gazprom’s data, the Russian gas holding has recently been buying about 10-11 bln cubic meters of Turkmenistan’s gas a year. Gazprom is selling Turkmenistan’s gas to Europe on the spot market through Gazprom Germany.

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