Keeping sufficient oil and gas resources for next generation must be thought over today: President of Turkmenistan

Keeping sufficient oil and gas resources for next generation must be thought over today: President of Turkmenistan

Turkmenistan, Ashgabat, June 8 / Trend G. Hasanov /

"Presently, we must think about keeping sufficient oil and gas resources for next generation," national TV channel Altin Asir cites words of Turkmen President Gurbanguly Berdimuhamedov on June 8.

Turkmenistan is one of key natural gas exporters in the Caspian region. According to earlier published materials, Turkmenistan intends to extract up to 250 billion cubic meters of gas by 2030 annually. Presently, the country can extract 100 billion cubic meters of gas, foreign companies operating in the Caspian coast can provide 20 billion, Berdimuhamedov said at the last meeting of the government.  

Berdimuhamedov charged vice-premier minister T. Tagiyev to hold the meeting in the nearest future with specialists of fuel-energy complex on realization of development program of oil and gas industry by 2030.

"Today there is necessity in designing of more flexible approach to sell resource potential of basic branch of national economy," Berdimuhamedov said.

Turkmen President called for complex solving of tasks to increase volumes of production, processing, export of energy resources and careful, rational use of natural reserves.      

There are great reserves of hydrocarbon beginning from the Caspian coast and right coast of Amu Darya. Geologic research confirms these reserves, he said.

Turkmenistan supplied Russia with major export gas volume up to now. Presently, Russia asks for reconsideration of terms of long-term contract, namely, reduction of supply or its cost because of poor demand on the world market due to global crisis. Damage occurred in main line gas pipeline Middle Asia-Center preceded it early April 2009. Afterwards supply was not resumed. Turkmenistan is likely to have alternative route to China late 2009. China plans to buy up to 40 billion cubic meters of gas annually via gas pipeline. This gas pipeline is being constructed via territories of Uzbekistan and Kazakhstan. EU nations and South-East Asia joined negotiations on Turkmen gas. 

"Concrete tasks should be noted given real time and future requirements raised by Turkmenistan's initiatives to ensure global energy security. Solving of these tasks will promote achievement of goal - effective realization of energy potential of the country," Berdimuhamedov said.

Diversification of mutually beneficial cooperation is basic principle in energy policy of Turkmenistan. Turkmenistan accelerates interaction in oil and gas sector with leading world energy powers and big companies. Berdimuhamedov also stressed necessity in designing more optimal scheme to sell Turkmen energy resources to foreign consumers and to bring it in accordance with international practice. 

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