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9

Gazprom to Pay For Turkmen Gas 50 % More

that could result in higher prices for Ukraine, and, consequently, in tough talks between Russia and Ukraine

Russia's gas export monopoly Gazprom has agreed to pay 30 to 50 percent more for Turkmen gas next year.

Gazprom said in a statement its chief executive Alexei Miller had signed a deal with Turkmen officials to pay $130 per 1,000 cubic metres in the first half of 2008 and $150 in the second half, up from $100 this year.

Gazprom added that could result in higher prices for Ukraine, and, consequently, in tough talks between Russia and Ukraine.

In 2009 and beyond the price will be determined by a formula, which will in turn depend on global energy prices. The deal will be valid until 2028.