Posted by: russiaoilandgas | July 20, 2007

Turkmenistan Allows China to Develop Key Gas Field

China Gas Pipeline TurkmenistanTurkmenistan will permit the China National Petroleum Company (CNPC) to develop gas fields in its Bagtyyarlyk region.  In a landmark agreement, signed between the Chinese energy giant and the Turkmen State Agency for Supervising the Use of Oil and Gas Resources, CNPC will become the first foreign company permitted to develop ground gas fields in Turkmenistan, further strengthening ties between the former soviet republic and China after the two countries signed a gas transportation deal last year.

The agreement defines the raw materials base of the Turkmen-Chinese gas pipeline project; and accords on speeding up its implementation have been signed during Turkmen’ President Gurbanguly Berdimuhamedov’s two-day official visit to China, which is finishing today.

“Turkmenistan guarantees that the Turkmen side will supply Turkmen natural gas in the volumes stipulated by the agreement,” the Turkmen president’s press service said.

“The Bagtyyarlyk territory is a major part of the promising gas area Sagkenar (on the right bank of the River Amu Darya)”, a Turkmen government official told ITAR-TASS on Wednesday.

Its gas reserves are 1.7 trillion cu.m. of natural gas, according to official data. The territory includes Samandepe and Altyn Asyr (Golden Age) gas fields. The former’s proven reserves are 100bn cu.m. of sulphur-containing gas. The 500-square-kilometre Altyn Asyr has Bereketli, Pirguyy, Yanguyy and Sandykly gas fields, where seismic surveys have been recently carried out.

For the full story, click here ( http://www.oilandgaseurasia.com/news/p/0/news/808 )

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