Turkmenistan’s national gas company, Turkmengaz, has not extended its gas supply contract with Gazprom because the parties could not agree on a new fuel price.
Turkmengaz Chairman Maksat Babayev explained: “On June 30, as outlined in the contract, we were set to review prices. If both sides agreed on the price, we could extend the contract. However, after negotiations, we couldn’t agree on the commercial terms. So, as per the contract, without an agreement, the contract was to end on June 30, which is what we proceeded with.” He shared this at a press conference following the “Oil and Gas of Turkmenistan – 2024” (OGT 2024) event.
Babayev added that for Turkmengaz, the critical factor in starting, resuming, or ending supplies is the commercial aspect. “Contracts for purchase and sale are considered based on mutual benefit,” he explained. “Currently, demand from the north, west, and east is growing, and we are constantly in talks with various buyers and countries, so resuming supplies to Russia is certainly possible.”
In 2019, Gazprom signed a five-year contract with Turkmengaz to buy natural gas through June 30, 2024. The agreement covers an annual supply volume of 5.5 billion cubic meters.
Previously, Gazprom’s head, Alexey Miller, announced that the company doubled the volume of gas supplies to Central Asia from January to August 2024.
According to Miller, the republics’ rapid economic and social development has opened meaningful new opportunities for Gazprom, which is currently at the highest possible level of gas supply to Uzbekistan.
