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Gas industry

Gazprom Eyes Offshore Fields in Turkmenistan's Caspian Sector

Strategic Insights

— 1 min read

Gazprom, the Russian energy giant, is reportedly preparing to bid for rights to explore and develop offshore fields in Turkmenistan's Caspian sector. According to Alexander Ryazanov, Gazprom's deputy CEO, the company has identified several promising prospects and is in the process of acquiring the necessary paperwork. While Ryazanov noted that the lack of information on Turkmenistan's onshore gas reserves may impact the terms of a potential agreement, he emphasized that maximum supply volumes are already confirmed through real contracts.

Key Takeaways:

  • Gazprom is preparing to bid for rights to explore and develop offshore fields in Turkmenistan's Caspian sector.
  • The company has identified several promising prospects, including one field being explored by a British company.
  • Gazprom plans to acquire the necessary paperwork for the field, which is currently located in London.
  • The Russian energy giant aims to increase its capability to accept Turkmen gas to 55 billion cubic meters (bcm) annually by renovating the Uzbekistan section of the Central Asia - Center Pipeline.
  • The development of new offshore fields could potentially unlock an additional 16.5 billion tonnes of hydrocarbons in the Turkmen sector of the Caspian.
  • Ryazanov has stated that Turkmenistan has completed the onshore reserves audit, but the results have not been made available to Gazprom.
  • The tender process for the exploration and development of the offshore fields is expected to take place in the middle of next year.

Statistics:

  • 16.5 billion tonnes: estimated hydrocarbons reserves in the Turkmen sector of the Caspian.
  • 55 billion cubic meters (bcm): target annual capacity for accepting Turkmen gas.
  • 1828: Reference to the source text, indicating the publication year is unknown.
  • Middle of next year: expected timeline for the tender process for the offshore fields.

Sources:

  • Asia Pulse - Gazprom is preparing to bid for rights to offshore fields in Turkmenistan's sector of the Caspian Sea, Alexander Ryazanov, the Russian gas giant's deputy CEO, told Gazprom's corporate magazine.
  • TCA - 03-10 1828 (Note: The date '1828' is likely a reference to the source text rather than an actual date, as the publication of this article is stated as Oct 3).

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