BAKU, Azerbaijan, January 7
By Amina Nazarli - Trend:
Turkmenistan and China are witnessing the beginning of a new era of cooperation in the oil and gas sector, Chen Huailong, Director General of the CNPC branch in Turkmenistan said, Trend reports via Business Turkmenistan.
He made the remark during a meeting in the Lebap region hosted by the President of Turkmenistan Gurbanguly Berdimuhamedov,
According to him Turkmenistan exported about 34 billion cubic meters of natural gas to China in 2021.
The director general said that the State Concern Turkmengas and CNPC signed a production sharing agreement on July 17, 2007 for the Bagtyyarlyk field, which is currently industrializing 29 gas fields and extracting natural gas from 137 wells.
Huailong went on to say that since the Turkmen-China gas pipeline was inaugurated in 2009, over 320 billion cubic meters of Turkmen gas have been transported to China.
Touching upon the issue of the project to drill three wells in the Galkynysh gas field, which began in August 2021, the director general assured that CNPC will make every effort to complete this work this year.
Turkmenistan, according to Huailong, holds a key position in the international energy system, given the growing global trend toward low-carbon emissions and expectations of a significant increase in the share of natural gas in global energy consumption.
The industrial development of recently discovered gas fields increased Turkmen natural gas reserves by 126 billion cubic meters.
Gas cooperation is a critical component of Turkmen-Chinese relations. Turkmenistan is the country with the most pipeline gas supplies to China.
The volume of investments made by CNPC, which has been operating in this contract territory since 2007, totaled more than $8.2 billion at the beginning of 2020.
