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Natural gas
Turkmenistan: China vies to secure gas supplies
CHINA HAS offered to lend the country $3bn to help fund the development of the South Iolotan gasfield. The terms of the loan, which was announced during a June visit by Chinese deputy prime minister Li Keqiang to Ashkabad, have not been revealed, but may provide Chinese companies with a role in developing one of the biggest fields in the world. Last year, Gaffney Cline and Associates, the UK-based energy-consulting firm, concluded that South Iolotan held 4-14 trillion cubic metres (cm) of reserves after conducting an audit at the field. President Gurbanguly Berdymukhammedov told a government meeting in June that South Iolotan was capable of producing 50bn cm/y and would underpin the country's gas-export business for half a century. China secured a presence in Turkmenistan's gas business in 2007, signing a gas-import deal and launching construction of an export pipeline to China. The pipeline, which will also gather ...Click here to continue reading Natural gas
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