Turkmenistan Economic News

Some 160 promising Oil and Gas Fields Discovered in Turkmenistan
Over 160 promising oil and gas fields, 60 of which are currently being developed, have been discovered in Turkmenistan, the representatives of the national fuel and energy complex said at an investment forum in Ashgabat.
Source: trend.az 

Iran cuts Turkmen gas imports by 52 percent
Imports of natural gas from Turkmenistan to Iran have decreased by 52 percent over the first half of the current Iranian year compared to the same period last year, which began on March 20, National Iranian Gas Company's managing director Javad Owji said, IRNA reported. Currently Turkmenistan transports to Iran some 4 million cubic meters of gas per day, Owji said, adding that from March 21 to October 21, about 2.7 billion cubic meters of gas were imported from Turkmenistan.
Source: trend.az

Turkmen parliament adopts 2013 State Budget
Turkmenistan’s Parliament approved the law “On the State Budget of Turkmenistan for 2013.” As in previous years, the State budget will receive revenues from the main industries of the national economy, such as oil and gas, chemical production, power generation, and construction. Compared to last year, the allocations will increase for education by 15.7 percent, for healthcare by 10.8 percent, and for culture by 22.6 percent. Financing of sports will go up 1.9 times as compared to 2012. In addition, the budget for 2013 provides a 10 percent increase in wages and government benefits, as well as a 15 percent increase in pensions.
Source: Turkmenistan.ru 

BTC pipeline significantly ups Turkmen oil transportation
The Baku-Tbilisi-Ceyhan (BTC) oil pipeline transported 2.3 million tons of Turkmen oil in January to September 2012 compared to 1.5 million tons in the same period of 2011, Azerbaijani State Statistics Committee told Trend on Wednesday. The BTC transported 2.1 million tons of Turkmen oil in 2011 compared to 1.3 million tons in 2010. The oil is transported under contracts signed between SOCAR Trading and Dragon Oil producing oil in Turkmenistan. Oil transportation via the BTC began in July, 2010.
Source: trend.az 

Turkmenistan’s GDP ups by 11.1 percent from early 2012
GDP growth rates were 11.1 percent for the first nine months of this year. In general, the share of industry has significantly increased in GDP. This figure increased by 13 percent compared to the same period of 2011.
Source: trend.az 

More than 1 million tons of cotton harvested in Turkmenistan
Turkmen cotton growers harvested more than 1 million tons of cotton. This year, under the government contract farming, cotton growers committed to harvest 1,109 million tons of cotton.
Source: Turkmenistan.ru 

Turkmenistan to modernize cellular and telephone communication
The Ministry of Communications of Turkmenistan will sign a number of major contracts with leading manufacturers of electronic equipment and technologies with a view to increasing the capacity of the national cellular communication network and ensuring wide access and high quality of telecommunications services for the public. The contracts will be signed with China’s Huawei Technologies Co., Ltd, Germany’s Nokia Siemens Networks GmbH & CO.KG., and Russia’s East Wind.
Source: Turkmenistan.ru 

Dragon Oil is one of major investors in Turkmen fuel and energy complex
Over the 12 years of its cooperation with Turkmenistan to develop the Caspian shelf, Dragon Oil has become one of the biggest foreign investors in the market, having invested nearly $2.4 billion as of June 30 2012, Chief Operating Officer Hussain Al Ansari said at the International Investment Forum in Ashgabat. During this period, the average daily oil production in the Cheleken contract area has increased from 7.000 in 2000 to 71.751 barrels of oil per day as of the end of 2011. In 2012-2015, the company intends to involve more than $1 billion in the infrastructure facilities. According to the plans, some 100,000 barrels on average per day is going to be produced during this period.
Source: silobreaker.com 

Russian company builds gas pipeline in Turkmenistan
Russia’s Stroytransgaz company has completed construction of Turkmenistan’s Malay-Bagtyyarlyk gas pipeline and related facilities, including a crossing under the Amu Darya River as well as a gas metering station, the company said. The Turkmen State Commission signed an acceptance covering a guarantee for all the operating facilities. The Malay-Bagtyyarlyk section is part of the Central Asia-China gas pipeline with a total length of 7000 km, ensuring a supply of 30 billion cubic meters of natural gas from Turkmenistan to China through Kazakhstan and Uzbekistan.
Source: trend.az