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Turkmenistan Economic News

Turkmenistan Unveils Plans for Oil and Gas Extraction Till 2016
President Gurbanguly Berdymukhamedov approved the development program for the oil and gas complex, and chemical industry for 2012-2016, the Turkmen government said on July 7. During the last government meeting, the President announced that the total amount of oil produced in the country during this period will hit 55.9 million tons and the amount of natural gas will climb to 448.7 billion cubic meters.
Source: trend.az 

Turkmen Natural Gas Export Grows by 19.4 Percent - Government
At a Cabinet meeting, President Gurbanguly Berdymukhamedov stressed the need to attract foreign investment and introduce innovative technologies in the development of Turkmenistan’s fuel and energy sector, reported the Turkmen government on July 7. According to the official statement, the growth rate of oil and gas condensate production amounted to 107%during the six months of this year compared to 2011, and natural and associated gas - 113.8%, while the export volume of natural fuel increased by 19.4%.
Source: trend.az 

Oil Production in Balkan Region Increases
Oil producers of Balkan province are steadily increasing the supply of hydrocarbons to the Turkmenbashi complex of oil refineries. This June, the Turkmenbashi complex of oil refineries received nearly 555,000 tons of crude oil from the fields in the western region of the country. This is 15,000 tons more than in the same period of last year.
Source: Turkmenistan.ru 

Russia Discusses Participation in TAPI with Pakistan
During the meeting of a Russian – Pakistani working group on energy cooperation, which took place in Islamabad on July 3, the parties welcomed the possibility of Russian companies participating in the construction of TAPI pipeline (Turkmenistan – Afghanistan – Pakistan – India), said the Russian Energy Ministry on July 6. The Russian delegation included representatives from the Russian Ministry of Energy and Russian companies Gazprom EP International, Stroytransgaz, INTER RAO UES, Power Machines, and Technopromexport.
Source: trend.az 

Turkmenistan: Drivers Will Have to Pay for Gas Now
On July 1, the owners of trucks, buses and tractors lost the right to free gasoline they have enjoyed since February 2008. From now on, only drivers of regular cars under 3.5 tons and motorcyclists will be eligible for the free fuel -- 720 liters of petrol and 240 liters of natural gas every six months. Everyone else in the oil-rich state must pay market prices, which are still reasonably affordable. The lowest-grade A-80 blend costs $0.19 per liter, while A-92 costs $0.20 and A-95 currently stands at $0.22.
Source: eurasianet.org 

Turkmenistan Citizens Need Coupons to Buy Flower
Although Turkmenistan exports significant volumes of grain, the country’s regions still rely on a coupon system for buying flower. For instance, in Lebap region, the norm is five kilos of flower per person. Those who have coupons pay 0.4 manat (0,12 USD) per kilo, while those who don’t have coupons must pay 1 manat. Wealthier people buy imported flour in the bazaars (local markets)on the market and pay 2 manats per kilo. As of July 6, the prices of bread and flour increased again. A 600 gram loaf of bread now costs 60 tenge (21 cents) in comparison to the previous price of 20 tenge (7 cents).
Source: gundogar.org  

Turkmenistan to Increase Salaries and Pensions as of January 2013
Wages, state benefits and pensions will be hiked in Turkmenistan on January 1, 2013, Russian language state newspaper Neitralniy Turkmenistan reported on July 9. According to the state decree 'On increasing of wages, pensions and government benefits in Turkmenistan,' signed by President Gurbanguly Berdymuhamedov, the wages of employees of state institutions, self-supporting enterprises and public organizations, as well as the size of allowances, will increase by 10% and pensions by 15%.
Source: trend.az  

New Recreation Center Opened in Avaza
 
On July 7, the “Shabak” complex of luxury cottages opened at the “Avaza” tourist resort on the Caspian Sea. The complex was built at the order of the Commercial Bank Turkmenbashi and consists of 10 luxury two-story luxury cottages for 16 persons each. The complex is equipped with jacuzzis, saunas, medicinal baths to be filled with sea water or medicinal plant infusions, and indoor and open air swimming pools for children and adults. The complex also has football, volleyball, and basketball fields, a state-of-the-art fitness center, medical treatment and massage rooms, beautician rooms, pool and snooker tables, a hair salon, and other facilities.
Source: Turkmenistan.ru 

Aquarium and Water Park to be Built in Avaza
The Committee on the “Avaza” National Tourism Zone announced international tenders for the selection of a contractor for the design and “turnkey” construction of an aquarium with a recreation center and a water park with a recreation center.
Source: Turkmenistan.ru 

Turkmenistan Economic News

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