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. Last Updated: 07/27/2016

Turkmenistan Raises Gas Prices

ASHGABAT, Turkmenistan — Turkmenistan will raise export prices for all buyers of its natural gas to $60 per 1,000 cubic meters starting in January 2006, its Foreign Ministry said Friday, justifying the move on higher costs.

The announcement marks a toughening of Turkmenistan's line in negotiations with Russia and Ukraine, the principal buyers of Turkmen gas, which is mainly exported through a Soviet-era pipeline network.

It had previously charged Russia $44, and its president said last month he wanted to raise this to $50 in the short term. Ukraine also has an agreement to buy Turkmen gas at $44. "Due to significant increases in world prices for equipment used in the oil and gas sector and for other uses in extracting Turkmenistan's gas, from 2006 Turkmenistan will raise the price of its natural gas to $60 per 1,000 cubic meters," the Turkmen Foreign Ministry said.

Negotiations on new contracts with buyers of Turkmen gas would start soon, it added.