Turkmenistan, China sign gas agreement

Following the negotiations, the parties signed a package of documents, which included an agreements on providing a $4 billion loan for Turkmengaz State Corporation, on purchase and sale of natural gas, on purchase and sale of additional annual 10 billion cub m of gas, and on extraction of gas and condensate on the Bagtyyarlyk contracted territory, etc.

As the Ashgabat correspondent of Turkmenistan.ru reports, in the course of the talks it was noted the gas pipeline from Turkmenistan to China will be commissioned in late 2009, and in accordance with the previous agreements, Turkmenistan will annually supply up to 40 billion cubic meters of gas over 30 years to China.

According to Gurbanguly Berdimuhamedov, “this project is of strategic importance for Turkmenistan and China, and serves the cause of universal prosperity and sustainable development”.

During the meeting, Chinese Vice-Premier made a special emphasis on the readiness of China “to strengthen cooperation in such industries as textiles, transport, agriculture, and in the hi-tech sphere”.

Li Keqiang also said about the growing needs of China as a grain producing power in potash fertilizers to be produced in the short term in Turkmenistan