Turkmen hydrocarbon reserves exceed 71 billion of oil equivalent

Turkmen hydrocarbon reserves exceed 71 billion of oil equivalent

The hydrocarbon reserves of Turkmenistan exceed 20.8 billion tons of oil and 50.8 trillion cubic meters of gas (71.6 billion tons of oil equivalent), acting Minister for Petroleum Industry and Mineral Resources Kakageldy Abdullayev said, RIA Novosti reports.

The minister said at a conference on oil and gas of Turkmenistan in Ashkhabad that the country has enough gas to supply China, Russia, Iran and Europe put together. The Turkmen sector of the Caspian Sea has 11 billion tons of oil and 5.5 trillion cubic meters of gas, excluding contracted blocks. Turkmenistan has a total of 12 billion tons of oil and 6.5 trillion cubic meters of gas in the Caspian Sea.

About 160 gas reserves have been discovered so far and 60 are being developed.

Turkmenistan, Russia, Iran and Qatar are the top 4 gas countries. Turkmen exports gas to Russia, Iran and China. It is working on a project for gas exports to Pakistan, India through Afghanistan (TAPI) and to Europe (Trans-Caspian Gas Pipeline).

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