Prime Minister Yurii Yekhanurov announced finalization of the agreement yesterday. At the same time, Russia signed an agreement with Turkmenistan for the purchase of 30 bcm of natural gas next year. Russia will pay USD 65 per 1,000 cm, while the price Ukraine will pay has not been disclosed, but we estimate it to be between USD 61-64 per 1,000 cm. Concorde Capital: Previously both Ukraine and Russia paid US 44 per 1,000 cm of Turkmen gas, but Turkmenistan pressed them to up the price. Ukraine’s signing of an agreement with Turkmenistan for gas supplies in 2006 is a reassuring sign, as it brings more certainty to the country?s gas balance next year. However, concern remains about the throughput of Central Asian pipelines. Currently throughput is estimated to be 40-50 bcm a year, which may lead to a conflict of interest between Russia and Ukraine and will give more leverage in negotiations to Turkmenistan.