ASHGABAT, Turkmenistan, February 6. Fitch Ratings predicts that gas production in Turkmenistan is expected to remain generally stable in the years 2024-2025, Trend reports.
According to Fitch, the volume of gas exports (which account for two-thirds of total exports) fell 2.3 percent in 2023.
"Eighty per cent of its gas exports in 2023 were to China, and the market share is set to remain heavily concentrated, despite recent discussion of a potential gas deal with Iraq that could be met through lower exports to Russia, and exploration of longer-term routes to Europe through Türkiye," Fitch Ratings said.
The agency notes that plans for the construction of a fourth gas pipeline are also at a more advanced stage, which will increase the capacity to China from about 40 billion cubic meters to 65 billion cubic meters, but adds that it does not expect the project to be completed before 2029.
Meanwhile, Fitch Ratings is an international rating agency specializing in assessing the creditworthiness and financial stability of various organizations, including corporations, banks, governments and other financial institutions.
The agency aims to provide business intelligence to facilitate effective decision-making and decrease business risks for its clients.