CNPC talks its investments in Turkmenistan
Ashgabat, Turkmenistan, Nov. 23
By Huseyn Hasanov– Trend:
The volume of investments in projects in Turkmenistan amounted to $7 billion, Vice-President of Petrochina and the Chairman of the Board of Directors of CNPC International Wang Zhongcai said at the International Oil and Gas Forum held on Nov. 20 in Ashgabat, a source close to the organization of the forum said.
Wang Zhongcai noted that at the end of 2018, the volume of Turkmen gas imports will amount to 35 billion cubic meters, which will account to 10 percent of the demand for this fuel in the Chinese economy.
CNPC participates in the development of the deposits Bagtyyarlyk and Galkynysh in Turkmenistan. The projects are aimed at supplying Turkmen gas to China.
At present, three branches of the pipeline on the route Turkmenistan-Uzbekistan-Kazakhstan-China (branches "A", "B", "C") have been built and functioning. They are to supply 40 billion cubic meters of natural gas per year altogether.
The agreement on the construction of the fourth branch "D" of the gas pipeline "Turkmenistan-China" via Tajikistan and Kyrgyzstan was signed in September 2013. It was also reported that the additional branch's rate of flow would be 25 billion cubic meters of gas.
According to the plans the annual volume of Turkmen natural gas exported to China can reach 65 billion cubic meters in 2021.