Gazprom Signs Five-Year Natural Gas Deal With Turkmenistan

MOSCOW (Reuters) - Gazprom has signed a 5-year contract with Turkmengaz to purchase natural gas, the Russian gas producer said on Wednesday.

The bulk of Turkmen gas - about 40 bcm out of the total output of 70 bcm - now goes to China and the Ashgabat government is building a pipeline through Afghanistan and Pakistan to India to open up new markets.

Turkmenistan will supply Gazprom with up to 5.5 bcm of natural gas per year, the company said in a statement. It provided no information on the price.

In April, the Central Asian country resumed natural gas exports to Russia after a three-year suspension.

The volume agreed on Wednesday is much lower than Turkmenistan’s shipments to Russia in the decades preceding the suspension when annual exports could reach 50 bcm.

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