CNPC to receive 51 billion cubic meters of gas from Turkmenistan
Turkmenistan sees a strategic partner in China, including in the energy sector, where a rich experience of cooperation has been accumulated, said President Gurbanguly Berdimuhamedov, speaking on August 23 at the ceremony to start construction of new wells at the Galkynysh field in Mary region.
As one example of this, he cited the Turkmenistan-China gas pipeline, through which over 300 billion cubic meters were exported to the Celestial Empire over 11 years of operation.
The President recalled that the resources of the Galkynysh field alone, according to experts, amount to about 27 trillion cubic meters of gas.
Today, 45 wells operate on this promising area of over 4,000 square kilometers. Each of them provides the volume of produced gas up to two million cubic meters per day.
According to Berdimuhamedov, the starting construction of three more wells of particular complexity at the Galkynysh field is an important step for the further development of the domestic gas industry and cooperation between Turkmenistan and China in the fuel and energy sector.
The work on this project will be carried out by the Chinese energy company CNPC, and as payment under the contract with the State Concern Turkmengaz, it is envisaged to supply natural gas to China for three years.
In turn, Reuters reported that CNPC would receive up to 51 billion cubic meters of gas from Turkmenistan in exchange for an increase in production at the Galkynysh field.
Drilling will be carried out by CNPC Chuanging Drilling Engineering Company Limited. It is expected that the capacity of each well will be about 3 million cubic meters of gas per day.
Their drilling project is designed for 30 months. In accordance with the previously concluded agreements, the payment for the services of the Chinese company will be carried out through the annual supply of 17 billion cubic meters of blue fuel to the PRC within three years.