June 26, 2009

China to Get More Turkmenistan Gas

Russia and China appear set to split Turkmenistan's gas riches at least in terms of current production levels in a new deal briefly mentioned on Turkmenistan TV. Beijing will extend $4 billion (US dollars) in loans and Turkemenistan will up its deliveries of natural gas to China - via an as yet unfinished pipeline - to 40 billion cubic meters per year.

Turkmenistan has the 4th largest proved reserves of natural gas in the world (according to BP statistics) and European and American interests are actively trying to get new production diverted to Europe via an alternative pipeline to lessen Russia's grip on the EU and former Soviet Republics.....

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