Turkmenistan plans to bring gas production in Caspian Sea up to 10 bcm

Turkmenistan plans to bring gas production in Caspian Sea up to 10 bcm

Ashgabat, Turkmenistan, March 1

By Huseyn Hasanov - Trend:

Turkmenistan has all conditions for annually producing up to 10 billion cubic meters of natural gas, Turkmen President Gurbanguly Berdimuhamedov said, local media outlets reported on Friday.

Berdimuhamedov made the remarks during his visit to the 'Makhtumkuli' field located in Caspian Sea's Turkmen sector.

"Speaking about the prospects for increasing the capacity of gas processing plant in Kiyanly town, the Turkmen leader said there are all conditions and possibilities for bringing natural gas production up to 10 billion cubic meters and gas condensate production up to four million tons per year," Turkmen Dovlet Khabarlary (TDK) state news service reported.

Currently several foreign companies are operating in the Caspian Sea's Turkmen sector as part of the production sharing agreement (PSA). Turkmen sector's total reserves are estimated at 18.2 billion tons of fuel equivalent.

Malaysia's Petronas is among the companies operating in the Caspian Sea's Turkmen sector under the PSA. The company develops 'Makhtumkuli', 'Diyarbakir' and 'Garagol Deniz' fields, as well as the 'Block 1' contract area.

The deputy executive director of Petronas Carigali (Turkmenistan), Amir Ali informed Turkmen president about implementation of this major investment project, according to Turkmen Altyn Asyr TV channel.

It has been also reported that the gas processing plant and above-ground gas terminal in the Kiyanly settlement's vicinity were commissioned in 2011.

The capacity of the complex' first phase stands at five billion cubic meters of natural gas and 2.4 million tons of gas condensate.

"Development of the Caspian Sea's rich hydrocarbon resources, which were included into the world registry of the largest oil and gas reserves, is a strategic direction in development of Turkmenistan's fuel and energy complex," Vatan newspaper wrote.

Petronas conducted a set of seismic exploration works during its activity; the company drilled several dozens of exploration, appraisal and production wells, prepared the fields in the Caspian Sea's Turkmen sector for their trial commissioning.

"A modern onshore and offshore infrastructure, as well as a workshop for assembling offshore structures, used in implementation of offshore works, were constructed in the Caspian region," according to the article.

Turkmenistan is implementing a strategy to modernize its fuel and energy complex and diversifies supply routes of its energy resources to the world markets.

Turkmenistan plays a key role in the Caspian region's and Central Asia's energy market and ranks the fourth in the world in terms of its natural gas reserves.

Turkmen gas is exported to China, CIS and Iran. Ashgabat also considers the possibility of constructing gas pipelines from Turkmenistan to the South Asian and European markets.

The project on construction of about 300 km long pipeline, through the Caspian seabed till Azerbaijan's shores, is considered as one of the best ways for linking Turkmen resources with the European markets.

Further, via this route, the Turkmen fuel may be delivered to Turkey, which borders with the European countries.

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