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Just Released: "Turkmenistan Oil & Gas Report Q3 2014"

New Energy research report from Business Monitor International is now available from Fast Market Research

 

Boston, MA -- (ReleaseWire) -- 06/12/2014 -- BMI View: 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 250 bn 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 7 6.1 bcm in 201 3 to 186 bcm in 202 3 .

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.
- Upstream interest remains strong on the back of the most recent discovery, the Galkynysh gas field (previously known as South Yolotan), which has been confirmed as the world's second largest following an appraisal by auditor Gaffney, Cline & Associates (GCA). The field is thought to contain 13.1-21.2trn cubic metres (tcm) of natural gas . The former Soviet Republic holds the world's fourth-largest natural gas reserves and plans to treble annual gas output to 250bcm by 2030, 180bcm of which would be for export.
- In September 2013, President Berdymukhmedov and his Chinese counterpart Xi...

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The Turkmenistan Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Turkmenistan including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Turkmenistan Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Turkmen oil and gas industry.

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