Turkmenistan energy report

• Foreign investors can invest in the oil and gas sectors only if they partner with national companies. Foreign partnerships are generally in offshore areas.
• Turkmenoil supplies most of the oil production.
• The country is a large exporter of natural gas, mainly to China, with exports in rapid progression (9%/year).
• The prices of gasoline and diesel have almost doubled since 2015 with the end of the free supply policy.
• Gas is by far the main energy source, supplying around 80% of the consumption.
• The ambitious official targets of gas and oil production for 2030 will not be reached.

• Institutions & Energy Policy

  The Ministry of Energy supervises the electricity sector.

  The country's priority is to develop gas exports and, to a lesser extent, oil exports.

• Energy Companies

  Oil:

  Turkmenoil (Türkmennebit, also called Turkmenneft in Russian) is the national oil production company. It supplies 90% of the country's production; the rest is provided by Turkmengaz (3%) and several foreign companies. Monument Oil (United Kingdom) and ExxonMobil are the main companies operating in the offshore fields, while Petronas and Dragon Oil operate the main onshore fields.

• Energy Supply

  Oil:

  The country's oil production has decreased by 21% since a peak at 13 Mt in 2015 (10 Mt in 2020).

  The country has a refining capacity of 271 kb /d, distributed mainly over 2 refineries (Seydi, 120 kb/d and Türkmenbaşy/Krasnovodsk, 116 kb/d).

• Energy Prices

  Oil:

  Despite the decrease in global oil prices, the prices of gasoline and diesel almost doubled between 2015 and 2020, with the end of the free supply policy.

• Energy Consumption

  Per capita consumption is 4.7 toe, with electricity accounting for around 2 600 kWh in 2020.

  Total energy consumption increased rapidly from 2000 to 2015 (4%/year, on average) and has remained stable until 2018; after a progression of 4% in 2019, it dipped by 2% in 2020 to 28 Mtoe. Natural gas represents 77% of that consumption and oil 23%.

• Issues & Prospects

  Foreign investments tend to be more diversified, mainly focusing on the energy sector, but with a growing share allocated to chemicals, especially fertilizers. In total, Turkmenistan plans to spend US$46bn in the oil sector until 2025.

• GENERAL OVERVIEW
• INSTITUTIONS AND ENERGY POLICY
• ENERGY COMPANIES
• ENERGY SUPPLY
• ENERGY PRICES
• ENERGY CONSUMPTION
• ISSUES AND PROSPECTS
• DATA TABLES
• ABBREVIATIONS
• GLOSSARY

Download the Table of Contents

Below is a list of the Turkmenistan energy market report graphs:

• GRAPH 1: CO₂-energy Emissions (MtCO₂)
• GRAPH 2: Installed electric capacity by source (2020, %)
• GRAPH 3: Gross power production by source (TWh)
• GRAPH 4: Power generation by source (2020, %)
• GRAPH 5: Gasoline & diesel prices (US$/l)
• GRAPH 6: Consumption trends by energy source (Mtoe)
• GRAPH 7: Total consumption market share by energy (2020, %)
• GRAPH 8: Final consumption market share by sector (2020, %)

In the Turkmenistan energy market report you will find the following tables:

• Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO₂ emissions.
• Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
• Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
• Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
• Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.