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Monday, 01 December, 2008, 23:10 GMT | more >>

Turkmenistan sets output sights high



By Upstream staff 

Turkmenistan has boosted its production forecast for the year from 73 billion cubic metres to 81.5 Bcm.

Turkmenistan, which sells most of its natural gas through Russian gas monopoly Gazprom, produced 72.3 billion cubic metres of gas last year.

"In 2008 we plan to produce 81.5 billion cubic meters of gas and 10.8 million tonnes of oil," President Kurbanguly Berdymukhamedov said in televised remarks, keeping the oil production forecast unchanged.

Despite agreeing to work with Russia on a new pipeline across Central Asia, Turkmenistan is trying to pursue a less Russia-focused foreign policy and has demanded Moscow pay more for its gas supplies.

In his remarks, Berdymukhamedov said Turkmenistan produced 72.3 Bcm of gas last year and 9.8 million tonnes of oil, below earlier official forecasts for 2007 of 80 Bcm and 10.4 million tonnes, respectively, a Reuters report said.

Turkmenistan lies on some of the world's biggest natural gas reserves, mainly under its vast Kara Kum desert. It plans to more than triple its gas production by 2030.

The desert nation has yet to publish its total natural gas reserves. According to BP's annual statistical review, its proved natural gas reserves stood at 2.9 trillion cubic metres at the end of 2006.


Tuesday, 26 February, 2008, 10:11 GMT  | last updated: Tuesday, 26 February, 2008, 10:11 GMT

Cranking up flows: Turkmen President Gurbanguly Berdymukhamedov
 

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