Russian energy giant Gazprom will import 5.5 billion cubic meters (bcm) per year of natural gas from Turkmenistan, the Russian company announced on Wednesday.
The purchase agreement, signed by Gazprom and Turkmenistan's energy company Turkmengaz on Monday, will run until June 30, 2024, according to the Russian company's statement.
The agreement will see an increase in the import volumes from the current short-term contract for 1.2 bcm from April 15 to June 30, up to to 5.5 billion cubic meters.
In 2016, Gazprom stopped buying gas from Turkmenistan over a gas price dispute, and brought the case to the arbitration court against Turkmengaz.
Later this April, resulting for successful negotiations, the parties struck a deal and Gazprom announced it would resume Turkmen gas purchases.
By Firdevs Yuksel