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Gazprom files lawsuit against Turkmenistan

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Gazprom files lawsuit against Turkmenistan

Post by Admin on Fri Jul 24, 2015 3:30 pm

The gas conflict between Gazprom and Turkmenistan, which has been dragging on for several years, has reached a new level, Forbes reported

UNIAN: On June 08, Gazprom filed a lawsuit in Stockholm arbitration court against Turkmenistan's national gas company Turkmengaz, demanding the revision of the contract price, a source close to one of the affiliates of the Russian company told Forbes, which was also confirmed by a source close to Gazprom.

The representative of the Stockholm arbitration court did not respond to Forbes request and the official representative of Gazprom declined to comment.

According to the contract signed in 2010, the purchase price of Turkmen gas for Gazprom is around 0 per 1,000 cubic meters, and the volume of purchases under "take or pay" terms amounts to 10 bcm per year. Gazprom CEO Alexei Miller said at the shareholders meeting a year ago that his company could terminate any business relations with Turkmenistan. He noted there were disruptions in gas supplies.

In early 2015, Gazprom announced it would purchase only 4 bcm of gas from Turkmenistan and was going to challenge the terms of the contract in the Stockholm arbitration. The gas monopoly attributed reduction in gas purchases to the fact that demand for Russian gas in Europe and in Ukraine had shrunk...........................

To read further go to this link: uatoday.tv


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