• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 8 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours How Far Have We Really Gotten With Alternative Energy
  • 4 hours If hydrogen is the answer, you're asking the wrong question
  • 4 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 16 hours Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 4 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)

Turkmenistan's Proven Natural Gas Reserves Almost Doubled in New BP Review

On the 17th of July, BP released its 2012 edition of its Statistical Review of World Energy, the energy business ‘bible’.

In it Turkmenistan’s proven natural gas reserves have been increased to 24.3 trillion cubic meters, almost double the 13.4 trillion cubic meters estimated in 2010. This revised figure marks Turkmenistan as holding 11.7 percent of global proven natural gas reserves, almost equal to Qatar’s 25 trillion cubic meters (12 percent of world total).

Turkmenistan currently exports gas in two pipes going north towards Russia which have an annual capacity of 45 billion cubic meters, and in two pipes with a capacity of 20 billion cubic meters, going south to Iran. Due to Turkmenistan not actually producing much of its proven reserves none of the pipes are currently working at full capacity, transporting only 10 billion cubic meters in either direction.

The EU looks to Turkmenistan’s gas as an alternative to Russia, and hope that it would introduce competition to Gazprom’s monopoly and therefore reduce natural gas prices; however whilst a pipeline to Europe offers a very attractive opportunity for Turkmenistan, they are unwilling to make any move until granted political assurances against any Russian countermeasures.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News