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. Last Updated: 07/27/2016

Turkmens Hike Gas Price to Iran

Turkmenistan on Monday said it had secured a higher price for supplying natural gas to Iran and it would deliver more gas starting next year.

Turkmen President Saparmurat Niyazov and Iranian President Mahmoud Ahmadinejad agreed to raise the gas tariff to $65 per 1,000 cubic meters from Feb. 1, the Turkmen state news service said. Gas exports to Iran will rise to as much as 14 billion cubic meters per year starting in 2007.

"The price for Turkmen natural gas supplies will be adjusted every three years,'' the service said on its web site.

Turkmenistan delivered 5.8 bcm of gas to Iran last year, the Turkmen state-owned news service said Jan. 13. Iran paid $42 per 1,000 cubic meters of gas at the border with Turkmenistan in 2004, according to the Turkmen government.

Turkmenistan last year raised pipeline capacity to Iran by 50 percent to about 14 bcm per year by opening a $137 million gas compressor station, news service reported last fall.