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16.04.03á12:48

CORNER STONE
Agreement between Russia and Turkmenistan on cooperation in gas sphere dated April 10, 2003

The Russian Federation and Turkmenistan, hereinafter referred to as the Sides, being guided by the Treaty on friendship cooperation between the Russian Federation and Turkmenistan dated April 23, 2002,

Considering the Agreement between the Government of the Russian Federation and the Government of Turkmenistan about cooperation and development of fuel and energy complexes dated April 15, 1994 and the Agreement between the Government of the Russian Federation and the Government of Turkmenistan about cooperation in oil and gas branches dated May 17, 1995,

Being convinced that development of bilateral economic cooperation on an equal, mutually advantageous and long-term basis and performance of the achieved arrangements promote to increase of well-being of peoples of the Russian Federation and Turkmenistan,

Taking into consideration that each side has an opportunity for implementation of joint projects in gas sphere

Acknowledging the role of gas sphere for economic progress of the both states and aimed at expansion of cooperation in this field,

Have agreed as follows:

Article 1

The Sides provide long-term mutually advantageous cooperation in gas branch, being guided by the acting national legislation, interests and opportunities of the Sides on the following directions:

Purchase of Turkmen natural gas with guarantees of deliveries and payments on the basis of long-term contract between the authorized organizations;

Investigation, development and extraction of gas on conditions of product sharing agreement on a shelf of the Caspian sea and processing, transportation and realization in case of implementation of joint projects;
Joint designing, construction, reconstruction of objects of an infrastructure of a gas complex, including system of gas mains and providing services;

Preparation and application of uniform unified normative and technical documentation regulating functioning of the systems of gas mains;

Development and realization of joint projects in fields of both gas and power supply;

Development of new technologies, joint implementation of research works;
Optimization of routes of transportation of natural gas according to the legislation of the Sides and on the basis of long-term agreements;

Creation of new economically competitive gas transporting capacities and necessary infrastructure.

Article 2

For the purposes of realization of provisions of the Agreement the following authorized organizations are defined:
from the Russian Side - Gazrpom Open joint-stock company;
from the Turkmen Side - Turkmenneftegaz State trading corporation, Turkmengas and Turkmenneft State concerns.
Gazrpom Open joint-stock company and Turkmenneftegaz State trading corporation will conclude on the economically justified and mutually advantageous conditions the contract on sale and purchase of Turkmen natural gas for the period of action of the present Agreement in the following volumes (billion cubic meters):

Year 2004: 5-6; 2005: 6-7; 2006: 10; 2007: 60-70; 2008: 63-73; 2009-2028; 70-80 annually.

The Turkmen Side guarantees, for the period of action of the present Agreement, delivery of Turkmen natural gas to the Russian Federation on border of Turkmenistan with Republic of Uzbekistan and Republic of Kazakhstans, and the Russian Side, on behalf of the authorized organization in the specified period guarantees purchase, transportation and payment of the Turkmen gas delivered in volumes according to present clause.

Article 3

The Sides study an opportunity of participation in joint projects of export of natural gas to the international markets.
Article 4

Each of the Sides gives other Side the information available at its order regarding all questions on development of cooperation provided that such information does not carry confidential character and its transfer does not contradict the national legislation of the Side giving such information.

The Sides in due time exchange the appropriate acts of legislation concerning activity, carried out within the framework of the present Agreement, including trade, capital investments, the taxation, a banking, insurance, financial services, transport and labour.

Article 5

The present Agreement does not mention rights and obligations of the Sides under other international contracts which participants they are.

Article 6

As agreed changes can be brought to the present Agreement which are made out by separate Reports which are an integral part of the present Agreement.

Article 7
Coordination and control of implementation of provisions of the present Agreement: from the Russian Side - the Ministry of Energy of the Russian Federation; from the Turkmen Side - the Ministry of oil and gas industry and mineral resources of Turkmenistan.

Information exchange about a course of performance of provisions of the present Agreement is carried out on results of each half-year.
Article 8

Disputes between the Sides concerning interpretation and applications of positions of the present Agreement are solved by negotiations and consultations between the Sides.

Article 9

The present Agreement come into force simultaneously with coming into force of the long-term contract of sale and purchase of Turkmen natural gas between the authorized organizations and operates till December 31, 2028.
Action of the present Agreement automatically is prolonged for the subsequent five years' periods if any of the Sides not less than 12 months prior to the expiration of the next period will not notify other Side on the intention to stop its action.

Moscow, Kremlin. April 10 2003


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