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Turkmenistan’s gas consumption to rise in 2018

Oil&Gas Materials 26 September 2018 13:37 (UTC +04:00)

Baku, Azerbaijan, Sept.26

By Leman Zeynalova – Trend:

Turkmenistan’s gas consumption will increase by 2 percent y-o-y in 2018 and reach 30.9 billion cubic meters (bcm), Fitch Solutions Macro Research (a unit of Fitch Group) said in its report obtained by Trend.

A similar pace of growth is to be maintained over the coming decade, with the total consumption figure reaching 36.9 bcm by 2027, according to the report.

“The launching of the Garabogaz project takes place in a context of uncertainty related to domestic gas consumption following a 2017 governmental decision to gradually curb welfare subsidies, which previously gave free access to natural gas, water, and electricity to the Turkmen population,” said the company.

Fitch Solutions Macro Research believes that although the need to use gas more rationally is likely to substantially impact the consumption trend, the country’s demand for natural gas will still steadily increase, mainly driven by the chemical industry and the power sector.

Power generation is responsible for a vast majority of Turkmenistan’s gas consumption, as almost all of the country’s electricity generation is gas-fired, said the report.

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