Turkmenistan Chooses Argus As Energy Price Information Source
London, 27 June 2014
Turkmenistan has chosen global energy and commodity news and price reporting agency Argus as an official source of energy price information. The country’s exporters will now be able to use prices published by Argus in their export contracts for crude, petroleum products, LPG and petrochemicals.
Turkmen president Gurbanguly Berdymukhamedov has signed a government resolution to make Argus an officially recognised source of market pricing information. This resolution took effect from 21 June.
Turkmenistan is a major regional producer of natural gas, refined products, LPG and crude. Turkmen commodities are exported to neighbouring central Asian countries, including Afghanistan, as well as to Mediterranean markets and China.
Turkmenistan is one of many governments in the region — including Russia, Ukraine, Kazakhstan and Belarus — that officially use Argus pricing information. Uses include regulatory purposes, official selling prices, tax calculation and transfer pricing.
“Argus has been working with energy companies in Turkmenistan for 20 years. We are delighted that the government has recognised the accuracy and reliability of the independently assessed prices that we produce,” Argus Media chairman and chief executive Adrian Binks said.
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Argus is an independent media organisation with over 600 full time staff. It is headquartered in London and has offices in each of the world’s principal commodity centres. Its main activities comprise publishing market reports containing price assessments, market commentary and news, and business intelligence reports that analyse market and industry trends.
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