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Turkmenistan, China sign cooperation protocol in fuel and energy complex

Oil&Gas Materials 26 November 2010 17:42 (UTC +04:00)

Turkmenistan, Ashgabat, Nov.26 / Trend H. Hasanov /

The Turkmen and Chinese governments signed a protocol in Ashgabat to enhance cooperation in the fuel and energy complex, an official Turkmen source said today.

The protocol was signed during the meeting of a joint committee on cooperation, which was attended by Chinese Vice Prime Minister Wang Qishan.

According to the sides, the committee's activity could make the relationship between the two countries even more dynamic, and contribute to a more detailed discussion of the practical aspects of implementing joint projects.

In addition to the fuel and energy complex, the two sides cooperate in such areas as construction, transport, telecommunications, and equipment supplies

China has become more active in Central Asia. This is primarily due to a pipeline project bringing oil to China from Turkmenistan through Uzbekistan and Kazakhstan. In late 2009, China began importing Turkmen gas under a long-term contract.

In addition, the Chinese company CNPC operates in Turkmenistan under a production sharing agreement to develop the Bagtiyarlik gas field, which is located on the right bank of the Amu Darya River. The field's reserves are estimated at 1.6 trillion cubic meters of gas.

Turkmenistan has about 40 companies operating with Chinese capital. Some 57 investment projects involving Chinese companies worth more than $4 billion or 2.5 billion yuan have been registered.

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