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Turkmen National Gas Company, CNPC to Ink $106.2 Million Deals

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31 January 2022

The Turkmen national gas company Türkmengaz and China National Petroleum Corporation (CNPC) will conclude additional agreements worth over $106.2 million to bilateral contracts regarding the installation of specialized equipment and the provision of related services at the Galkynysh, Garabil and Bagaja fields.

The Deputy Chairman of the Turkmen Government Shahym Abdrakhmanov, overseeing the country's oil and gas industry, briefed on the development of the agreements to President Gurbanguly Berdimuhamedov during the online cabinet meeting on Friday.

Following the briefing, Turkmen President emphasized the importance of extensive use of modern technology in drilling new wells and developing existing fields, which play an important role in increasing exports of Turkmen gas.

Berdimuhamedov added that investments should be repaid through the supply of raw resources.

Having signed the relevant resolution authorizing the conclusion of the agreements, the Turkmen President instructed to ensure strict control over the implementation of tasks arising from this document.

In 2021, around 34 billion cubic meters of Turkmen natural gas was delivered to China.