Gazprom demanded $5 bln from Turkmengas

​Gazprom demanded $5 bln from Turkmengas for gas supply to Russia in 2010-2015.

In the summer 2015 Gazprom filed a claim against Turkmengas to the Stockholm Arbitration Court though the requirements of the necessity of reconsideration of the gas price that was purchased from Turkmengas have been announced for the 5th year straight. Gazprom didn’t mention the price of the issue. In conformity with the agreement, the volume of annual purchase of Turkmen gas is to make up 10 bln cubic m.

In 2015 Moscow paid for 4 bln cubic m having reduced the volumes of purchase to the level of loss-free export to Europe. Ashkhabad said that Gazprom was unable to pay and accused the company  of short payment.

In early 2016 Gazprom refused to go on the purchase of the Turkmen gas and notified of the cancellation of the agreement.

Pronedra wrote that Gazprom explained such a decision by the violations made by Turkmenistan.