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Turkmenistan Terminates Gas Supply Contract with Gazprom, Secures Deal with Iraq
Contract Type
contract
Description
Turkmenistan has ended its long-term gas supply contract with Russian state-controlled gas giant Gazprom while preparing to finalize a larger supply deal with Iraq. The terminated contract with Gazprom, signed in 2019, included an annual price revision clause, leading to its termination as a result of the inability to negotiate a desired price revision. Concurrently, an agreement was reached with Iraq to deliver gas to support its power generation via a swap arrangement with Iran, with delivery volumes potentially exceeding the levels shipped under previous commitments.