Turkmenistan intends to increase natural gas production to 116 billion cubic meters per year by 2029. This was announced by the head of the gas transportation and gas supply department of the Turkmengas state concern Rustem Tekayev at the International Conference “Oil and Gas of Turkmenistan – 2024”.

According to Tekayev, more than half of the produced gas will be intended for export. “The fundamental concepts for the development of the oil and gas sector of Turkmenistan are presented in the ”Program of the President of Turkmenistan for the socio-economic development of the country in 2022-2028”. Gas production during this period is planned to be increased to 116 billion cubic meters per year, of which more than half is intended for export,” he said.

Earlier it was reported that the volume of natural gas production in Turkmenistan by the end of 2023 amounted to 80.6 billion cubic meters, a year earlier gas production was at the level of 80 billion cubic meters.

Tekayev also noted that Türkmengas is currently continuing to implement projects for economic growth. Among them are the construction of a new branch of the Shatlyk-Karakum gas pipeline with a length of 118 km, a new branch of the Karakum-Malay gas pipeline with a length of 124 km, as well as a new gas pipeline between the Naip-Deryalyk and Dovletabad-Deryalyk gas pipelines with a length of 58.2 km, and major repairs of the Central Asia-Center-III gas pipeline on the section 343-527 km.

“In order to create a ring system of the country’s main fields and ensure the efficiency of maneuvering the directions of gas export flows, as well as increasing the reliability of domestic gas supply, at the initiative of the esteemed President of Turkmenistan, a decision was made to build the Shatlyk-1 compressor station. This compressor station will ensure the transportation of 30 billion cubic meters of commercial gas per year,” said the head of the gas transportation and gas supply department of the Turkmengas state concern. Turkmenistan is the largest player in the Asian oil and gas market. The country's hydrocarbon resources are estimated at more than 71 billion tons of oil equivalent, which is more than 20 billion tons of oil and more than 50 trillion cubic meters of natural gas. Turkmenistan is among the top four countries in the world in terms of proven natural gas reserves, along with Russia, Iran and Qatar.