BISHKEK, Kyrgyzstan, Oct. 10 (UPI) -- The government of Kyrgyzstan Friday signed a memorandum of understanding with Russian energy giant Gazprom for long-term gas development, officials said.

Kyrgyz President Kurmanbek Bakiyev signed the deal with Gazprom chief Alexei Miller in the presence of Russian President Dmitry Medvedev in the capital, Bishkek, the Georgian weekly The Financial reported Friday.

Miller said the deal spoke to the broader relationship between the two countries in the energy sector, characterizing the arrangement as sustained and mutually beneficial.

"Our company has proven its reliability as a partner in the area of hydrocarbon exploration and production, as well as upgrade and utilization of underground gas storage capacities in the (Kyrgyz) Republic," he said.

The deal, said Miller, will allow Kyrgyzstan to develop its energy infrastructure to meet its long-term domestic energy demands.

"We hope for further strengthening of the bilateral relations," said Miller. "Having obtained the status of a strategic investor in the oil and gas sectors of Kyrgyzstan, Gazprom will promote implementation of a long-term investment program focused on supplying indigenous gas to the (Kyrgyz) Republic."