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Investment by Gazprom to expand Turkmenistan's export pipeline is on hold until the country publishes the results of an international reserves audit, putting future export volumes in doubt.
"The audit is completed, but the results have not been announced, which makes us think that the reserves are not enough to fulfil Turkmenistan's contractual obligations," Gazprom vice-chairman Alexander Ryazanov said this week.
Under a long-term contract with state-owned Turkmenneftegaz, Gazprom is set to receive 60bn-70bn [m.sup.3] of gas from Turkmenistan in 2007, with volumes rising to 80bn [m.sup.3]/yr in 2009 and increasing further in subsequent years. This year and …