OREANDA-NEWS. February 22, 2013. During the official visit of the Ukrainian delegation led by the President of Ukraine, Viktor Yanukovych in Turkmenistan, a Memorandum of Understanding between the Naftogaz of Ukraine National Joint Stock Company and the Turkmengaz State Concern was signed. As the Minister of Energy and Coal Industry Eduard Stavytskyi said at a briefing at the Government House, the Ukrainian company are active in the international oil and gas market for a long time, and the Turkmen company - has abundant natural gas resources, corresponding infrastructure and production capacity.

"The memorandum provides intensification of bilateral cooperation in the oil and gas industry, said Eduard Stavytskyi. First of all, we are interested in the restoration of gas supplies from Turkmenistan to Ukraine. As well as the participation of Ukrainian companies in the implementation of exploration, oil and gas development and participation in the construction of objects of the fuel and energy sector of Turkmenistan." He also added that between Ukraine and Turkmenistan has developed quite fruitful cooperation in the energy sector. Ukrainian companies successfully have implemented investment projects in Turkmenistan, which are highly appreciated by both parties. In addition, at the time, according to the Minister, the supply of gas from Turkmenistan to Ukraine amounted to more than 40 billion cubic meters per year. Also during the visit, the Turkmen gas supplies to Europe were discussed, as Turkmenistan is one of the largest exporters of natural gas to the world markets.

"We look at the situation very optimistic, we work out all the details, sign all the necessary official documents and contracts with Russian partners on the use of the gas transmission system, because as a member of the CIS all have equal access to it," Eduard Stavytskyi said. As for the price of Turkmen gas, the Minister said that negotiations are ongoing, but to talk about the price is still too early: "The talks are ongoing; I don’t want to run ahead. But I express personal opinion on the matter: we have recently been working on the issue of European spot markets. If you take the price of the spot market and separate the transportation component - this will be a fair price for gas for our country," the Minister concluded.