BAKU, Azerbaijan, April 4. Turkmenistan plans to expand the production and export of hydrocarbons in the short and medium term, Trend reports via the latest ADB's Asian Development Outlook.
According to Asian Development Bank (ADB), Turkmenistan's government's national development programs for 2030 call for increasing oil and gas production and exports, and the expansion of gas exports through existing pipelines to PRC, Russia and Iran, as well as through planned pipelines — Turkmenistan–Afghanistan–Pakistan–India pipeline and the Trans-Caspian pipeline - could contribute to regional energy security and decarbonize the region by replacing coal with gas.
At the moment, Turkmenistan's hydrocarbon reserves are estimated to exceed 50 trillion cubic meters of natural gas and 20 billion tons of oil.
"Turkmenistan has the world’s fourth-largest natural gas reserves, as well as substantial oil reserves. Hydrocarbons are 90 percent of all exports and the main source of budget revenue. Gas alone comprises more than half of exports and is essentially the only fossil fuel used in Turkmenistan to generate electricity. Installed renewable energy is minimal despite the considerable potential for solar and wind energy," the bank added.
Turkmenistan ranks among the world's leading countries in terms of oil and gas reserves. Its gas reserves have increased by 126 billion cubic meters as a result of the industrial development of recently discovered gas fields.
For example, recently the Turkmengas State Concern drilled a new well at the Yylan field, receiving an industrial inflow of natural gas with a daily flow rate of 991,600 cubic meters.