Russian, Turkmenistan Gas Giants Near Settlement In Years-Long Pricing Row - Official

Fahad Shabbir (@FahadShabbir) Published November 12, 2018 | 08:46 PM

Turkmenistan's state gas firm Turkmengas plans to reach a settlement with Gazprom in their three-year-long row over the price of gas sales to Russia, an aide to the Turkmen president said Monday.

ABU DHABI (UrduPoint News / Sputnik - 12th November, 2018) Turkmenistan's state gas firm Turkmengas plans to reach a settlement with Gazprom in their three-year-long row over the price of gas sales to Russia, an aide to the Turkmen president said Monday.

"There will be a settlement, yes, there will," Yagshygeldi Kakayev, the aide for oil and gas, told reporters at a petroleum conference in Abu Dhabi.

The Russian state gas giant lodged a lawsuit against Turkmengas with the Stockholm arbitration court in June 2015 over the contract price of gas and cut off supply in January 2016.

In September 2016, Gazprom CEO Alexey Miller said the company had taken a two-year break in purchases from Turkmenistan. In October this year, he announced plans to restart natural gas imports from the Central Asian nation in January 2019.