The agreement between the Russian Federation and Turkmenistan on cooperation in the gas industry

of April 10, 2003

The Russian Federation and Turkmenistan which are hereinafter referred to as with the Parties

being guided by the Treaty of friendship and cooperation between the Russian Federation and Turkmenistan of April 23, 2002,

in view of the Agreement between the Government of the Russian Federation and the Government of Turkmenistan on cooperation and development of fuel and energy complexes of April 15, 1994 and the Agreement between the Government of the Russian Federation and the Government of Turkmenistan on cooperation in oil and the gas industries of May 17, 1995,

being convinced that development of bilateral economic cooperation on equal, mutually advantageous, long-term basis and accomplishment of the reached agreements promote growth in prosperity of the people of the Russian Federation and Turkmenistan,

considering that each of the Parties has potential for realization of joint projects in the gas industry,

recognizing that the gas industry is important element of economy of both states, and for the purpose of cooperation increase in this area,

agreed as follows:

Article 1

The parties provide long-term mutually beneficial cooperation in the gas industry, being guided by the existing national legal system, interests and opportunities of the Parties in the following directions:

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

investigation, development and gas production on the terms of production sharing agreements on the shelf of the Caspian Sea and conversion, transportation and realization in case of implementation of joint projects;

joint designing, construction, reconstruction of infrastructure facilities of gas complex, including gas trunk pipeline system and provision of services;

preparation and application of the single unified specifications and technical documentation regulating functioning of gas trunk pipeline systems;

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