Turkmenistan exports gas to China via the Turkmenistan-China Gas Pipeline and is now highly reliant on the Chinese gas market. Turkmenistan’s economy is tightly controlled and its investment climate is challenging. Only service contracts are currently available for onshore upstream projects.
What are the major companies operating in the Turkmenistan oil and gas market?
Türkmengaz, PJSC Gazprom, China National Petroleum Corporation, JSC Uzbekneftegas and Sinopec Oilfield Service Corporation are the major companies operating in the Turkmenistan Oil and Gas Market. This report lists the top Turkmenistan Oil and Gas companies based on the 2023 & 2024 market share reports.
How is the Turkmenistani oil industry based on natural gas resources?
On the other hand, the Turkmenistani oil industry is highly dependent on natural gas resources. Increased oil production and consumption, along with new investments in the gas chemical complex, are expected to drive the growth of this industry.
Does Turkmenistan have natural gas reserves?
The country had the world¡¯s fourth-ranked proven natural gas reserves (BP p.l.c., 2020, p. 32). The legislative framework for the mineral sector in Turkmenistan is provided by the Hydrocarbon resources Law 2008 and the Law on subsoil 2014. Data on mineral production are in table 1.