2.4.4. Debt Problems and Discontinued Supplies in 1997

In 1997, despite the gas sales to Iran, Turkmenistan's exports fell to 6 bcm [32], as gas exports to Ukraine were stopped due to unpaid debts in March 1997 [34,35]. Between August 1997 and January 1998, the parties could not agree on a new price for the resumption of gas deliveries. During 1998 Russia encouraged the sales of Turkmen gas to Ukraine, which would free up some of the Russian gas for sales to Europe. In January of 1999, deliveries of Turkmen gas to Ukraine resumed under the agreement for 20 bcm per year at the price of \$36/1000 m3, paid 60% in barter.
