Turkmenistan,
which according to BP data holds the world’s fourth-largest natural gas
reserves, will have up to 40 billion cubic meters of gas spare to supply to
Europe, said Baymyrad Hojamuhamedov, deputy chairman of Turkmenistan's cabinet
of ministers. He did not specify when this gas would be available.
"Taking into account domestic demand
in the west of the country and supplies from there to Iran, we will have 40
billion cubic meters (bcm) of gas free every year, so European countries need
not worry," Hojamuhamedov told an energy conference.
Turkmenistan,
Central Asia's largest natural gas producer, is seeking to diversify exports
from its traditional market, Russia, and has already boosted supplies to China
and Iran.
It could
potentially become a major supplier of gas to the European Union-backed Nabucco
project to supply the fuel to European markets.
Nabucco, intended
to deliver gas from the Caspian region to Europe, is expected to cost about 7.9
billion euros ($11.04 billion) and is seen coming on line with about 15 bcm of
gas by the end of 2014.
Hojamuhamedov said
Turkmenistan's president, Kurbanguly Berdymukhamedov, had proposed to a
regional summit in Baku on Thursday that any two of the five countries on the
Caspian should be able to agree on laying a pipeline under the sea.
He said "the
majority" of the Caspian countries had agreed to this proposal.
"It's very good
news for us that others supported this initiative," Hojamuhamedov said.
"It supports our president's policy of diversifying export markets for
Turkmen natural gas and we are bringing these plans to life."
He added:
"Today, we are selling gas to Iran, China and Russia and talks on the
Turkmenistan-Afghanistan-Pakistan-India pipeline are moving at a fast pace.
This initiative now opens up one more direction — across the Caspian Sea — and
the opportunity to sell our hydrocarbons on the European market."
Turkmenistan plans to treble gas production to 230 bcm annually by 2030,
of which 180 bcm will be exported, Bairamgeldy Nedirov, minister of oil, gas
and mineral resources, said on Thursday.
