• 4 minutes China goes against US natural gas
  • 12 minutes WTI @ 67.50, charts show $62.50 next
  • 15 minutes Saudi Fund Wants to Take Tesla Private?
  • 3 hours Downloadable 3D Printed Gun Designs, Yay or Nay?
  • 4 hours Rattling With Weapons: Iran Must Develop Military To Guard Against Other Powers
  • 10 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 7 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 4 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 11 hours CO2 Emissions Hit 67-Year Low In USA, As Rest-Of-World Rises
  • 14 hours The EU Loses The Principles On Which It Was Built
  • 5 hours Corporations Are Buying More Renewables Than Ever
  • 19 hours Starvation, horror in Venezuela
  • 23 hours Are Trump's steel tariffs working? Seems they are!
  • 23 hours Is NAFTA dead? Or near breakthrough?
  • 21 hours How To Explain 'Truth Isn't Truth' Comment of Rudy Giuliani?
  • 19 hours The Discount Airline Model Is Coming for Europe’s Railways
India Surges Ahead In Global Solar Race

India Surges Ahead In Global Solar Race

India is soaring past the…

Cracks In Global Economy Weigh On Oil Markets

Cracks In Global Economy Weigh On Oil Markets

Oil prices fell this week…

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

Oilprice - The No. 1 Source for Oil & Energy News