BAKU, Azerbaijan, June 15. The European Bank for Reconstruction and Development (EBRD) forecasts Turkmenistan's GDP growth at 6.3% in both 2026 and 2027, following 6.3% year-on-year growth recorded in the first quarter of 2026.
Data obtained by Trend from the EBRD's latest Regional Economic Prospects report shows, that the country's oil and gas sector exceeded planned extraction and processing targets during the reporting period, while industrial output increased by 2.4% year-on-year.
The report also highlighted the launch of the fourth phase of the Galkynysh gas field expansion project, which is expected to provide additional support to economic activity over the medium term.
According to the bank, stronger investment activity and progress in expanding the Galkynysh field could provide additional upside potential to Turkmenistan's growth outlook in the coming years.
At the same time, the EBRD pointed to the concentration of Turkmen gas exports on the Chinese market as a key vulnerability, making the economy sensitive to fluctuations in Chinese demand.
Earlier, in April, Turkmenistan’s Foreign Minister Rashid Meredov, speaking at the Antalya Diplomacy Forum, emphasized that one of the key priorities of the country’s energy agenda is the supply of natural gas to Europe. "15-20 years ago we had very good cooperation with our European colleagues, and we did a lot to practically implement a number of ideas for delivering Turkmen natural gas to Europe," he said.
In parallel, the editor-in-chief of the newspaper "Türkmen Dünýäsi", Batyr Muradov, told Trend that Turkmenistan is considering the possibility of exporting natural gas to Europe via Azerbaijan.
