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.
According to various sources, within the framework of the program for the development of Turkmenistan’s oil and gas sector, by 2030 the annual production of natural gas is to increase up to 230-250 billion cubic meters, most of which is allocated for export. In 2015, Turkmenistan is planning to increase oil refining capacity to 15 million tons a year, in 2020 up to 20 million tons, in 2025 to 22 million tons and 2030 to 30 million tons.
Turkmen Farmers Harvest More Than 1 Million Tons of Cotton
Farmers of Turkmenistan have fulfilled their contractual obligations for the cotton harvest. They harvested about 1,110 million tons of cotton. This year, Turkme farmers sowed 550 thousand hectares of land.
Turkmenistan, Austria to Study Investment Projects
On November 27, Ashgabat is to host a meeting of the Turkmen-Austrian joint commission, according to an official Turkmen source. President Berdymukhamedov appointed the Chairman of the Chamber of Commerce, Mergen Shaliyev, to head the Turkmenistan group at a meeting designed to “develop bilateral cooperation between Turkmenistan and Austria."
Turkmenistan accelerates construction of East-West gas pipeline
Construction picked up pace in Belek - village in the Balkan region - the ultimate point of gas pipeline East-West, the Ministry of Oil and Gas Industry reported. The completion of the gas pipeline in Balkan province is scheduled for 2014, according to the program of socio-economic development of Turkmenistan for 2012-2016 and by order the state concern Turkmengas. It covers 325 kilometers.