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Gazprom has signed a long-term agreement to buy gas from Turkmenistan, following several years of negotiations.
The deal, between Gazprom export arm Gazexport and Turkmen state-owned Turkmenneftegaz, envisages deliveries starting at 5bn-6bn [m.sup.3]/yr in 2004, rising to as much as 80bn [m.sup.3]/yr by 2009 (see table). It was signed during a visit to Moscow last week by Turkmen leader Saparmurat Niyazov.
Gazprom will pay $44/`000[m.sup.3] at the Turkmen-Uzbek border until 2007, with half of this in the form of gas industry equipment. After that, payment will be in cash alone, based on world prices or a formula linked to the cost of oil products. Although …