Turkmenistan Oil and Gas Report Q1 2012 Potential for Gas Export Bonanza

Friday, Jan 27, 2012

Research and Markets (http://www.researchandmarkets.com/research/81b971/turkmenistan_oil_a) has announced the addition of the "Turkmenistan Oil and Gas Report Q1 2012" report to their offering.

“Turkmenistan Oil and Gas Report Q1 2012”

Turkmenistan could potentially benefit from a gas export bonanza, with a major reserves upgrade at the South Yolotan field alone providing the basis for long-term supply agreements that should transform the economic outlook. There are technical and commercial hurdles to overcome, but timely infrastructure investment and moves to improve international relations should guarantee that Turkmenistan becomes a key player in global gas supply.

Business Monitor International's Turkmenistan Oil and Gas Report provides industry professionals and strategists, corporate analysts, oil and gas associations, government departments and regulatory bodies with independent forecasts and competitive intelligence on Turkmenistan's oil and gas industry.

The main trends and developments BMI highlights for Turkmenistan's Oil and Gas sector are:

• Turkmenistan's South Yolotan gas field has been confirmed as the world's second largest after an appraisal by auditor Gaffney, Cline & Associates (GCA).
• According to Cedigaz data, in 2010, China received 3.55bcm of gas from Turkmenistan.
• BMI's forecasts assume that gas output will increase from an estimated 65bcm in 2011 to 95bcm by 2016, with a further substantial increase in supply expected by the end of the decade as the new fields enter production.
• The government is targeting higher production. However, the oil sector is struggling to meet its growth goals owing to a shift to gas production and lagging foreign investment.
• The country exports roughly half of its production.

At time of writing, BMI assumes an OPEC basket oil price for 2011 of US$101.90 per barrel (bbl), falling to US$99.40/bbl in 2012. Global GDP in 2011 is forecast at 3.2%, down from 4.3% in 2010, reflecting slowing growth in China, a faltering recovery in the US and a worsening eurozone debt crisis. For 2012, growth is put at 3.6%.

Source: Business Wire

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