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Turkmenistan picks contractors for making underground gas storage facility

Oil&Gas Materials 25 April 2024 15:19 (UTC +04:00)
Aman Bakiyev
Aman Bakiyev
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ASHGABAT, Turkmenistan, April 25. Turkmenistan has announced the prequalification of an international tender for the construction of an underground gas storage facility, Trend reports.

Maksat Babayev, Chairman of Turkmenistan's Turkmengaz State Concern, made the statement at the International Forum to Attract Foreign Investments in Turkmenistan's Energy Sector, which is being held in Paris.

According to him, the establishment of such a storage facility will help to balance seasonal swings in natural gas production and consumption while also ensuring the stability of export supplies.

Meanwhile, at a government meeting early last year, Turkmenistan's Deputy Chairman of the Cabinet of Ministers, Shakhym Abdrakhmanov, announced that the country will begin designing and building the country's first underground gas storage facility to assure reserves.

Turkmenistan ranks fourth in the world in terms of proven natural gas reserves after Russia, Iran, and Qatar.

Data from the Turkmengaz State Concern shows that the country's hydrocarbon resources are estimated at more than 71 billion tons of oil equivalent.

This volume includes more than 20 billion tons of oil and more than 50 trillion cubic meters of natural gas.

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