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Eurasian Business Briefing Turkmenistan

Turkmen President in talks with Qatar over TAPI pipeline development

Berdimuhamedov and Al-Thani March 2016Turkmenistan is considering turning to Qatar for financial and technical help with the development of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project, President Gurbanguly Berdimuhamedov announced after a meeting with Sheikh Tamim Bin Hamad Al-Thani in Doha this week. (more…)

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Turkmenistan secures $700m from IDB for TAPI pipeline to India

TAPITAPI: Turkmenistan has secured a $700m loan from the Islamic Development Bank to lay the long-awaited TAPI pipeline from its giant Galkynysh gas field to India via Afghanistan and Pakistan, it announced last week.
On completion, the $10bn pipeline will have the capacity to carry 33 bcm a year from Gaskynish to the Indian sub-continent and is intended to ease Turkmenistan’s dependence on Russia and China as export markets for its hydrocarbons. It is to use the 15-year IDB loan to finance construction work and equipment purchases, the country’s state news agency said.
TalebanTurkmenistan and Pakistan signed an MoU for the construction of the pipeline as far back as 1995, but concerns about security in Afghanistan – where Taliban insurgents have intermittently controlled swathes of the territory earmarked for the pipeline’s route – have led to lengthy delays in securing the requisite finance; on Friday, however, the head of Pakistan’s state-owned Inter State Gas Systems Mobin Saulat, told Reuters that “significant progress” had been made and that investor roadshows were being planned “in all the major financial hubs,” for November. 

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Turkic Council draws up proposals for common customs procedures

Turkic Council MapThe member states of the Turkic Council — Azerbaijan, Kazakhstan, Kyrgyzstan, and Turkey – are in the process of drawing up proposals for a common customs procedures and standards for the movement of goods, its Secretary General Ramil Hasanov said this week as they look (more…)

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TCOR takes stake in Turkmen Petroleum trading company

TCOR refineryTurkmenistan’s Turkmenbashi Complex of Oil Refineries (TCOR) has became one of the shareholders of the newly-created Turkmen Petroleum trading company headquartered in Dubai, it was confirmed today, as Turkmenistan (more…)

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Baku ready to help transport Turkmen gas to Europe via Southern Gas Corridor

 Trans Caspian and TANAP pipelinesThe governments in Baku and Ashgabat are in the process of negotiating a deal to enable the transportation of Turkmen gas to the EU by way of the Southern Gas Corridor (SGC), Azerbaijan’s Energy Minister Natig Aliev told journalists this week. The two options under consideration (more…)

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Ashgabat sets up commission to explore Turkmenistan WTO accession

AshgabatTurkmenistan WTO accession: The government in Ashgabat has set up a commission to explore the country’s accession to the World Trade Organization. The commission will study (more…)

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Turkmenistan has ‘window of opportunity’ says World Bank chief

Hans Timmer World BankThe fall in energy prices and the depreciation of the manat has opened a window of opportunity for Turkmenistan to become more internationally competitive, the (more…)

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TANAP head proposes opening pipeline up to Turkmen and Iraqi gas fields

Iraqi gas fieldThe Trans-Anatolian Natural Gas Pipeline (TANAP) should eventually carry gas from Iraq and Turkmenistan as well as from Azerbaijan its CEO Dr Saltuk Düzyol said over the weekend. If he gets his way, (more…)

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Turkmenistan’s East-West gas pipeline starts pumping towards the coast

East West gas pipelineThe newly commissioned East-West gas pipeline has begun pumping gas from Turkmenistan’s giant inland Galkynysh field to the country’s central Ahal region, the country’s Oil and Gas Ministry announced this week. The 733km pipeline, which was completed last year, runs (more…)

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Gazprom ends Turkmen gas contract and strengthens Beijing’s hand

GazpromTurkmengazTurkmen gas contract:  Gazprom has officially informed Turkmengaz that Russia will no longer be buying gas from the former Soviet satellite state, in a move that is bound to increase Turkmenistan’s dependence on China as an export market for its hydrocarbons. Gazprom’s decision (more…)

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Turkmenistan sets up NAPECO to coordinate upstream development

Turkmenistan President Gurbanguly Berdimuhamedov

Turkmenistan President Gurbanguly Berdimuhamedov

Turkmenistan’s President last week Gurbanguly Berdimuhamedov gave the go-ahead for the launch of the Turkmen National Oil and Gas Company (NAPECO) as it seeks to coordinate the development of the country’s oil and gas sectors. The new body will absorb (more…)

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Gazprom breaks with Turkmengaz and ups gas imports from Uzbekistan

GazpromGazprom has announced that it will be increasing the volume of gas it imports from Uzbekistan this year after terminating its contract with Turkmengaz. The move comes after a long-running dispute with Turkmenistan’s state-run gas supplier over pricing that culminated in the Russian energy giant filing a lawsuit with the arbitration courts in Stockholm earlier in the year. 
TurkmengazRussia and Turkmenistan (more…)

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Turkmenistan completes East-West gas pipeline

East-West gas pipeline opening ceremonyTurkmenistan last week announced that it has completed construction of the strategic East-West gas pipeline linking its eastern gas compressor station at Shatlik to Belek on the Caspian Sea. With an annual capacity of 30 bcm, the 773km pipeline is seen as key to Turkmenistan’s ambitions to increase gas exports to Europe.
“With (more…)

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Islamic Development Bank invited to invest in TAPI pipeline project

IDB President Ahmed Mohamed Ali Al Madani

IDB President Ahmed Mohamed Ali Al Madani

The Islamic Development Bank (IDB) was this weekend invited to invest in the 1,735km TAPI pipeline project by Turkemenistan’s President Gurbanguly Berdimuhammadov after its own President Ahmad Mohamed Ali Al Madani arrived in Ashgabat for the country’s Neutrality Day celebrations last Saturday,
The TAPI pipeline (more…)

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Turkmenistan urged to allow foreign investment in TAPI pipeline

US Deputy Assistant Secretary for Central Asia Daniel Rosenblum

US Deputy Assistant Secretary for Central Asia Daniel Rosenblum

TAPI: Turkmenistan should consider easing its rules on foreign investment in natural gas as it looks to develop the world’s fourth largest reserves amid rising competition, the US Deputy Assistant Secretary for Central Asia Daniel Rosenblum has told a conference in the capital Ashgabat, as the country moves ahead with the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline.
“Land-locked countries (more…)

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Singaporeran firm begins seismic research in Turkmen oilfields

Seismic SurveyingThe Singapore-registered Yug-Neftegaz company has started implementing 2D and 3D seismic research in the Turkmen oilfields in and around the Caspian Sea, the state-run Turkmengeologiya announced today. The surveying will concentrate on the country’s Goturdepe fields.
Estimates for Turkmenistan’s reserves currently stand at 12 billion metric tons of oil and 6.5 trillion cubic meters of gas

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Japanese consortium to develop Turkmenistan’s Galknysh gas field

Galknysh TAPI pipelineTurkmenistan has signed a framework agreement with a consortium of several Japanese companies for the development of part of its giant Galkynysh gas field as it ramps up production to meet the requirements of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, according to reports in the country’s national press.
The consortium is believed to include Mitsubishi, Chiyoda, Sojits, Itochu and JGC.
The total reserves of the Galkynysh and the nearby Yashlar gas fields are estimated at 26.2 trillion cubic meters,

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ADB downgrades Central Asian growth forecast

Asian Development BankCentral Asian growth: The Asian Development Bank (ADB) has revised its growth forecast for Central Asia down from 3.5% to 3.3% for 2015 and from 4.5% to 4.2% for 2016, as the region’s economies come to terms with lower global commodity prices and the Russian recession.
The ADB’s Asian Development Outlook 2015 (ADO 2015) (more…)

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Turkmenistan to start work on TAPI pipeline by year end

The Trans-Afghanistan Pipeline (also known as Turkmenistan–Afghanistan–Pakistan–India Pipeline, TAP or TAPI) is a proposed natural gas pipeline being developed by the Asian Development Bank.[1][2][3][4] Expected to be completed around 2017, the pipeline will transport Caspian Sea natural gas from Turkmenistan through Afghanistan into Pakistan and then to India. The abbreviation comes from the first letters of those countries. Proponents of the project see it as a modern continuation of the Silk Road.[5][6] Originally the cost of the pipeline project was reportedly estimated at $7.6 billion, but a more recent estimate was $10 billion.[7] GAIL India may become a part of TAPI project.[8]Turkmenistan today announced that it will start work on construction of the long-delayed $10bn TAPI gas pipeline to Pakistan and India via Afghanistan in early December. The pipeline will open up a new export market for the Central Asian country which is becoming increasingly nervous about its energy sector’s over-dependence on China and Russia for sales.
The project (more…)

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Council told of $18bn Turkmenistan infrastructure program

Elders Council Turkmenistan

Elders Council Turkmenistan

Turkmenistan infrastructure program: Turkmenistan plans to spend around $18bn on civil engineering and construction projects next year, President Gurbanguly Berdymukhamedov told the country’s Elders Council yesterday.
Among the estimated 220 projects that have been lined up are: (more…)

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