Russia and Turkmenistan have agreed to build a new gas pipeline, capable of shifting 10 bn cubic metres of gas per annum, with a parallel 'spare' line, around the shores of the Caspian Sea into Russia.
Russia will then control gas distribution to Europe - Turkmenistan houses the worlds largest gas reserves.
The deal comes in spite of rival bids from USA, Europe and China - Russia will be buying the gas at below current market prices. Thank God there is still plenty of oil left.
Russia will then control gas distribution to Europe - Turkmenistan houses the worlds largest gas reserves.
The deal comes in spite of rival bids from USA, Europe and China - Russia will be buying the gas at below current market prices. Thank God there is still plenty of oil left.