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Gazprom Seeks $5Bln From Turkmenistan

Russian state-run energy giant Gazprom is seeking $5 billion in reimbursements from Turkmenistan for gas supplied from 2010 to 2015, news agency Interfax reported on July 5.

Interfax reported that Gazprom is demanding a retroactive revision to the prices it paid for Turkmen gas as part of a legal suit going through the motions at the Arbitration Institute of the Stockholm Chamber of Commerce.

The aggressive move represents a remarkable disruption to the apparent recent outbreak of bonhomie between Moscow and Ashgabat. A delegation of high-ranking Russian military officials traveled to Turkmenistan last month with pledges to offer assistance in bolstering the Central Asian nation’s defense capabilities. And in May, Gazprom surprised many by hinting that it could resume buying Turkmen gas, which it formally stopped doing earlier in the year.

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Gazprom Seeks $5Bln From Turkmenistan

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