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Turkmenistan Raises Gas Prices For Russia, Ukraine

3 December 2004 -- Turkmenistan's national gas company says it intends to raise the price of natural gas it sells to Russia and Ukraine.

Turkmenneftegaz said the price will jump from $33 to $44 per 1,000 cubic meters. The company announced the decision today during meetings with in the capital Ashgabat with officials of Ukraine's Naftogas and Russia's Gazeksport.

Turkmenneftegaz said the increase is necessary because of increased gas production costs due to a several-fold rise in gas extraction equipment prices.