Turkmen to Attend Russian-Led Economic Meeting

A Turkmen delegation is to attend the June 4-6 St Petersburg International Economic Forum, a Russian-led meeting which will focus on the global financial crisis and how to counter it.



For Turkmenistan, whose economy is otherwise isolated from the outside world, one of the principal effects of the crisis has been a reduction in natural gas revenues as world demand has declined and prices have subsided.



On June 1, the Russian firm Gazprom, which buys most of Turkmenistan’s gas for resale in Europe, made it clear that either the purchase price is cut or it will have to cut the volumes it imports.



Gazprom is the main sponsor of the St Petersburg event.