Gazprom signed a contract on Monday to increase...
"A contract was signed to buy 4.25 billion cu m of gas in 2010. Taking into account earlier contracts for 2010, Gazprom"s portfolio will be 15.5 billion cu m of Uzbek gas," the company said.
Gazprom said it will buy gas on a price formula corresponding to European gas market levels, and that the two countries will soon start drafting a longer-term contract.
World gas prices, which experienced a continuous decline since early 2009 driven by the financial crisis, have rebounded since September amid talk of economic recovery and improvement in demand.
A Gazprom delegation led by deputy CEO Alexander Medvedev visited Uzbekistan, one of the largest gas producers in the post Soviet space, on Monday.
The deal came after Russia signed a contract for 30 billion cu m of gas supplies a year with another Central Asian republic, Turkmenistan, last week which agreed to resume deliveries after a months-long dispute over a pipeline explosion.