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Turkmen President Wants Chinese Loan To Open Huge Gas Field


Facilities at the Samantepe gas field. Foreign investors are vying for access to Turkmenistan's gas resources.

Facilities at the Samantepe gas field. Foreign investors are vying for access to Turkmenistan's gas resources.

Turkmen President Gurbanguly Berdymukhammedov has ordered oil and gas industry officials to work out the final details for receiving a $4.1 billion loan from China's state development bank and put that money toward developing the massive South Yolotan natural gas field.

The Turkmen government's state website reported today on Berdymukhammedov's August 12 meeting with state energy officials. Berdymukhammedov ordered officials to get the money from China and quickly build a "state-of-the-art complex for cleaning gas so its quality meets the highest international standards."

South Yolotan is one the world's major gas fields, with estimates of its reserves reaching as high as 16 trillion cubic meters.

Many foreign companies are negotiating with Turkmenistan to participate in developing this relatively untouched deposit.

compiled from agency reports
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