BP confirms presence of large gas reserves in Turkmenistan

BP confirms presence of large gas reserves in Turkmenistan

Turkmenistan, Ashgabat, July 17 /Trend H.Hasanov/

BP confirmed the presence of large gas reserves in Turkmenistan on the basis of official data, by which the country is ranked fourth in the world. This in turn is a guarantee of Turkmenistan's gas supply of current and prospective gas pipelines to any amount, vice president and chief economist of BP Christof Ruehl said in Ashgabat, local media reported on Tuesday.

The presentation of statistical compilation about the dynamics of power in 2011, prepared on the basis of the Statistical Review of World Energy of BP was held at the Ministry of Petroleum and Mineral Resources of Turkmenistan.

According to the information, this presentation held annually in different countries, was held in Turkmenistan for the first time which indicates the growing interest of the international community in the country.

According to the company Gaffney, Cline & Associates, the maximum reserves of just one field, namely Galkynysh, exceeds 26 trillion cubic meters of natural gas.

During the presentation Ruehl talked about trends in the energy markets in the past year, the impact of the economy on energy demand, the dynamics of growth in production and consumption of oil and gas, as well as the prices of hydrocarbon resources.

It was noted that the most significant growth in gas consumption in the world was recorded in China which provided inter alia through the delivery of Turkmen gas via the pipeline through Uzbekistan and Kazakhstan commissioned in 2009.

According to the BP report on World Energy 2012, the proven gas reserves of Turkmenistan amounted to 24.3 trillion cubic meters in 2011, which exceeded estimates for 2010 to the amount of 13.4 trillion cubic meters.

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