Turkmenistan Oil and Gas Report Q2 2014

Turkmenistan gas reserves growth continues to remain strong in 2014

Companies & Markets

09.04.2014 11:29:01 - Turkmenistan Oil and Gas Report Q2 2014 - a new market research report on

( - Upstream interest in Turkmenistan´s growing gas reserves remains strong, with foreign players, particularly China, eager to gain access to the country´s lucrative gas fields. The energy relationship between Turkmenistan and China continues to strengthen, with continued upgrades to existing long-term supply agreements and investment commitments. Turkmenistan has made ambitious gas production targets, raising its own forecasts of gas production in


2030 to 250bn cubic metres (bcm) from 230bcm previously.

Although 2030 is outside our forecast period, the ambitious figures highlight the country´s optimism, which is reflected in our forecasts for gas production, which we expect will more than double from 71bcm in 2012 to 186bcm in 2023.

The main trends and developments in Turkmenistan´s oil and gas sector are:

Turkmenistan and China continued to build on their strong energy relationship with a new commitment in September 2013 for Ashgabat to supply Beijing with 65bn cubic metres per year (bcm/y) of gas by 2020. In May 2013, Li Xiaoning, deputy director general at China Petroleum Engineering & Construction Corporation (a subsidiary of CNPC), told the Ashgabat gas congress that exports to China had totalled almost 50bcm since December 2009. Meanwhile, Turkmen data suggest that gas exports to China totalled 20bcm in 2012 and 25bcm in 2013.

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