Turkmen President Saparmurat Niyazov said on Thursday that Turkmenistan has huge potential in cooperation
Turkmen President Saparmurat Niyazov said on Thursday that Turkmenistan has huge potential in cooperation with Russia in the energy sector, especially in the field of natural gas, reports from Ashkhabad said.
When meeting with Russia's Gasprom company Board Chairman Aleksei Miller, Niyazov said both Turkmenistan and Russia are rich in energy resources while Turkmenistan has advantages in energy prices and exploitation conditions.
He said Turkmenistan will be exporting 70 billion cubic meters of natural gas annually to Russia by the year 2010 under a deal reached with Russian President Vladimir Putin in 2003.
Meanwhile, a report of the Interfax news agency said the Russian company has agreed to import from Turkmenistan 30 billion cubic meters of natural gas in 2006 at the price of 65 U.S. dollars per 1,000 cubic meters.
Natural gas exports constitute a significant part of Turkmenistan's economy. The country is estimated to earn 200 billion dollars from Russia under the 2003 deal under which total exports will amount to 2 trillion cubic meters. Turkmenistan also exports natural gas to Ukraine and Iran.