Ukrainian oil and gas concern Naftogaz Ukrainy and Turkmenistan's Turkmengaz plan to sign a memorandum of cooperation during Ukrainian President Viktor Yanukovych's visit to Ashgabat.

"Cooperation between Turkmengaz and Naftogaz is necessary today in order to jointly work on new technologies," Ukrainian Ambassador to Turkmenistan and Afghanistan Valentyn Shevaliov said.

Yanukovych is making a state visit to Turkmenistan on February 12-14.

Turkmenistan has the world's fourth largest gas reserves, Shevaliov said.

"Today this gas not only needs to be extracted, but research must be conducted. Today there are a number of new technologies for stripping gas," he said.