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RESOLUTION OF THE PRESIDENT OF TURKMENISTAN

of May 12, 2006 No. 7884

About enhancement of procedure for carrying out the exchange biddings on sales of products of oil and gas complex of Turkmenistan for export

For the purpose of enhancement of procedure for realization for export of products of oil and gas complex of Turkmenistan through the biddings at the State commodity and raw exchange of Turkmenistan, control of oil sale, products of oil and gas processing, petrochemistry and chemistry, and also streamlining of settlement system for goods sold I decide:

1. Approve enclosed:

Procedure for carrying out the exchange biddings on sales of products of oil and gas complex of Turkmenistan for export;

structure of the Supervisory board on realization for export of products of oil and gas complex of Turkmenistan;

the list of products sold through the biddings at the State commodity and raw exchange of Turkmenistan according to procedure for carrying out the exchange biddings on sales of products of oil and gas complex of Turkmenistan for export.

2. Permit Turkmenbashi complex of oil refineries, to State concerns "Turkmenneft", "Turkmengaz" and Garabogazsulfat production association to sign supplementary agreements to agreements (contracts) on sales of products of oil and gas complex according to the Procedure approved by this resolution.

3. To the ministry of the oil and gas industry and mineral resources of Turkmenistan monthly to submit in the Cabinet of Ministers of Turkmenistan the summary report on the signed and performed export agreements (contracts) on sales of products of oil and gas complex on the basis of data of information of the State commodity and raw exchange of Turkmenistan, the State Customs Service of Turkmenistan, Turkmenbashi complex of oil refineries, Turkmengaz and Turkmenneft State concerns.

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