Gurbanguly Berdymukhamedov said his country was modernizing its oil and gas industry and is seeking to diversify its gas exports, with a focus toward Europe.
Supplying gas to Europe has become increasingly important for Turkmenistan, home to South Yolotan, the world's fourth largest gas field, which Berdymukhamedov said has estimated reserves of 18 trillion cubic meters. The country's total gas deposits contain a total of 24.6 trillion cubic meters of gas.
The Turkmen president said last week his country intends to boost gas exports sevenfold, to 230 billion cubic meters of gas, including 180 billion cubic meters intended for export, by 2030. He also called on Russia, China and Iran to buy Turkmen gas at European prices.
Construction on the East-West pipeline to connect the North-East Turkmen gas fields with the Caspian Sea began in May. The planned Nabucco gas pipeline will later connect the Caspian to Europe via Turkey.
