icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
29 Jul, 2008 02:26

Gazprom looking for ways to keep Turkmen gas cheap

Gazprom looking for ways to keep Turkmen gas cheap

Gazprom is offering interest-free loans to Turkmenistan hoping to keep the price for Central Asian gas low.

The Russian oil giant suggested it could finance Turkmen gas infrastructure projects in an effort to keep the price below European levels.

Gazprom will annually provide $240-480 mln to Turkmenistan. The company would have to borrow the money at 6%-8% annual interest. Gazprom suggested two formulas for calculating the price. 

One takes in equal proportions the average European wholesale price, Ukraine's domestic price and the price in southern Russia for the previous six months.

The other takes the European wholesale price and the Ukrainian price.