Turkmenistan's natural gas production to increase - GECF

Oil&Gas Materials 2 November 2020 12:49 (UTC +04:00)

BAKU, Azerbaijan, November 2

By Jeila Aliyeva - Trend:

Natural gas production in Turkmenistan will increase by 78 percent and reach the level of more than 141 billion cubic metres by 2050, at a annual growth rate of 1.9 percent, Trend reports with reference to the Gas Exporting Countries Forum (GECF) Global Gas Outlook 2050.

As a holder of the fourth-largest volume of gas reserves worldwide, Turkmenistan has been unlocking the potential of natural gas, leading to 11.5 percent average economic growth rate between 2000 and 2019, continuously expanding domestic gas production, attracting investors, and enhancing knowledge and technologies exchange, the report says.

GECF also noted its readiness to facilitate projects on discovery and exploration with various countries and important producers like Turkmenistan.

Also, GECF is ready to support the Turkmen industry as it undergoes transformation on the back of the future energy trends, digitalisation, and climate action.

Important projects in the offing include the Turkmenistan-China pipeline enhancement, TAPI (Turkmenistan-Afghanistan-Pakistan-India), and others.

As reported, Turkmenistan has exceeded expectations of oil and gas condensate production from January through September 2020.

The estimates of oil and gas condensate production were exceeded by 1.7 percent, oil refining – by 2.6 percent, gasoline production – by 6.8 percent, diesel fuel production – by 6.9 percent, kerosene production – 0.3, and liquefied gas - 23.6 percent.

Follow the author on Twitter: @JeilaAliyeva