Gazprom Signs 5-Year Contract to Buy Turkmen Gas

Gazprom Signs 5-Year Contract to Buy Turkmen Gas

Russia’s natural gas company Gazprom has signed a five-year contract to import gas from the energy-rich Central Asian nation of Turkmenistan.

Gazprom said Wednesday the contract envisages importing 5.5 billion cubic meters of Turkmen gas a year.

The Gazprom Group resumed its procurements of Turkmen gas in April 2019. Between April 15 and June 30, a total of 1.2 billion cubic meters was delivered under a short-term contract.

Turkmenistan is one of the largest gas resource holders in the Caspian region and has the world's fourth largest proven natural gas reserves.