• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Wind droughts
  • 23 hours "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 10 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 9 hours "How to Calculate Your Individual ESG Score to ensure that your Digital ID 'benefits' and money are accessible"
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 10 days "Forget Oil, The Real Crisis Is Diesel Inventories: The US Has Just 25 Days Left" by Zero Hedge - 5 Stars *****
  • 3 days The Federal Reserve and Money...Aspects which are not widely known
  • 1 day "Europe’s Energy Crisis Has Ended Its Era Of Abundance" by Irina Slav
  • 7 days Is Europe heading for winter of discontent with extensive gas shortages?
  • 3 days "Dodgy Demand Data? The Oil Price Collapse Conspiracy" by Alex Kimani
  • 10 days "The Global Digital ID Prison" by James Corbett of CorbettReport.com
  • 11 days Goldman Betting on Cryptocurrencies
  • 14 days Сryptocurrency predictions
RFE/RL staff

RFE/RL staff

RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many…

More Info

Premium Content

Russia To Resume Gas Imports From Turkmenistan

Russia's Gazprom next year will resume imports of natural gas from Turkmenistan that it stopped three years ago, the energy giant's chief executive has said.

In an interview with Turkmenistan's state television channel during a visit to Ashgabat on October 9, Gazprom CEO Aleksei Miller said he expected purchases that had been suspended due to price disputes to resume at the beginning of next year.

"We are talking about the resumption of purchases of Turkmen gas by Gazprom in the very near future -- from January 1, 2019," Miller said, adding that details of the new deal still must be finalized.

Russia was once the leading importer of Turkmen gas until it was displaced by China around the beginning of the decade.

Relatively cheap imports of gas from Turkmenistan and other Central Asian countries enabled Russia to boost its exports to Europe.

In 2015, Gazprom announced its intention to cut imports of Turkmen gas to 4 billion cubic meters per year, down from the 10 billion level that it had been importing since 2010.

The move was followed by a complete cessation of purchases announced at the beginning of 2016, putting significant pressure on Turkmenistan's economy, which is highly dependent on hydrocarbons as a source of hard currency.

Related: The Overlooked Giant In Renewables

Gas deliveries to China from Turkmenistan along the Central Asia-China pipeline are currently between 30 billion and 40 billion cubic meters a year.

A large part of the revenues from Turkmenistan's sales to China are believed to be used to pay off debt on the pipeline link, which also traverses neighbors Uzbekistan and Kazakhstan and was financed by Beijing.

Turkmenistan, which sits atop the world's fourth-largest reserves of gas, exported similar volumes of gas to Russia before exports dropped dramatically following a mysterious pipeline explosion that occurred amid a price dispute in 2009.

By RFE/RL

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News