Turkmenistan expects gas production to reach 75-80bcm this year.

By bne IntelliNews May 24, 2013

Turkmenistan expects its gas output to reach 75-80bcm this year, after launch of production at Galkynysh field (known earlier as Iolotan). Last year, the country produced 70bcm, according to Annageldy Mametyazov, Deputy Minister of Oil Industry and Energy Resources.

Mametyazov also revealed that production at Galkynysh field would be launched on June 30, a day after birthday of President Kurbanguly Berdymukhammedov. Gas from the first phase of the field , 30bcm will be sent to China. The next stage of the field development will allow to increase production by 25bcm. By 2030, Turkmenistan expects to produce 66.6mn tonnes of oil and 230bcm of gas, of which 200bcm would be exported. This year, Turkmenistan plans to send 10-11bcm of gas to Russia, 40bcm to China and 14bcm to Iran.

Turkmenistan has the fourth largest gas reserves in the world after Russia, Iran and Qatar. The reserves of Galkynysh are estimated at 13.1-21.2tcm. The field is being developed on the basis of service contract by Chinese CNPC, Dubai-based Gulf Oil & Gas Fze, Petrofac and LG International Corp. and Hyundai Engineering

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