• 4 minutes Europeans and Americans are beginning to see the results of depending on renewables.
  • 7 minutes Is China Rising or Falling? Has it Enraged the World and Lost its Way? How is their Economy Doing?
  • 13 minutes NordStream2
  • 1 day Monday 9/13 - "High Natural Gas Prices Today Will Send U.S. Production Soaring Next Year" by Irina Slav
  • 29 mins California to ban gasoline for lawn mowers, chain saws, leaf blowers, off road equipment, etc.
  • 7 hours "Here is The Hidden $150 Trillion Agenda Behind The "Crusade" Against Climate Change" - Zero Hedge re: Bank of America REPORT
  • 50 mins "A Very Predictable Global Energy Crisis" by Irina Slav --- MUST READ
  • 5 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 1 day Two Good and Plausible Ideas about Saving Water and Redirecting it to Where it is Needed.
  • 5 mins An Indian Opinion on What is Going on in China
  • 6 hours Can Technology Keep Coal Plants Alive and Well?
  • 1 day Succession Planning in Human Resources for Vaccinated Individuals in the Oil & Gas Industry
  • 3 days Perfect Energy Storm in Europe: turning our back on fossil fuels is easier said than done!
  • 3 hours Storage of gas cylinders
  • 3 days Nord Stream - US/German consultations
The New ‘Energy Islands’ Of The North Sea

The New ‘Energy Islands’ Of The North Sea

Artificial energy islands are gaining…

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