The news comes after Alexey Miller, chairman of Gazprom’s management committee, recently met with Saparmurat Niyazov, president of the Republic of Turkmenistan, to discuss issues of cooperation in the oil and gas sector.
The threat to supplies results from the two parties failing to come to an agreement over an increase in the gas supply price for 2007. Instead of the $65 per 1,000 cubic meter Gazprom currently pays Turkmenistan, the Turkmen side has asked Gazprom to pay $100 per 1,000 cubic meter for next year’s supply.
Having reached deadlock in the negotiations, talks have been suspended, prompting concern that the matter will not be resolved and that supplies will be halted after the 2006 contract is fulfilled.
If the two parties cannot come to an agreement over price, the halt in supply could affect fuel supplies to Europe.
