Turkmenistan significantly increases its revenues in fuel energy complex
In January - September 2012, the total volume of investments in Turkmenistan’s fuel and energy complex (FEC) increased by 62.9%, reported the participants of a recent governmental meeting. During the reporting period, the growth rate of natural and associated gas amounted to 107.1% and the volume of exports rose by 8.8%. According to British Petroleum (BP), Turkmenistan ranks fourth in the world after Russia, Iran, and Qatar on its natural gas reserves. Currently Turkmenistan exports oil and gas to China, Iran, and Russia.
From January to September, the supply to the Chinese market increased by 18.8% from the fields included in the contract area of Bagtyyarlyk, developed by CNPC. Official sources reported at a gas conference in May in Avaza that in 2011 Turkmenistan received about $11 billion from exports which is double the amount in 2010.
To read the full story