Get the latest updates as we post them — right on your browser

. Last Updated: 07/27/2016

Turkmenistan's Gas Production Drops

ASHGABAT, Turkmenistan -- Turkmenistan's gas production and exports fell in the first two months of this year due to an ongoing price dispute with Russia, officials said Friday.

In January and February the country exported 9.2 billion cubic meters of natural gas, a 12 percent drop on the same period of 2004, said the Oil and Gas Ministry.

The gas output in the same period reached 12.1 bcm -- 6 percent down on 2004.

Exports and production dropped due to a halt of gas supplies to Russia because of a continuing price dispute between the two nations, the ministry said.

Turkmenistan wants to raise the price of gas it sells to Russia by about 30 percent. However, Russia insists that under earlier agreements the old price -- $44 for 1,000 cubic meters -- is effective until 2006.