4th
largest gas reserves in the world
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This analysis includes a comprehensive Turkmenistan energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 2020 market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.
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Highlights
4th
largest gas reserves in the world
100%
share of gas in power production
2.2%
average annual increase in energy consumption since 2010
Abstract
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.
Below is a list of the Turkmenistan energy market report graphs:
In the Turkmenistan energy market report you will find the following tables:
The Turkmenistan energy market data since 1990 and up to 2020 is included in the Excel file accompanying the Turkmenistan country report.
It showcases the historical evolution, allowing users to easily work with the data.
Key Data included in the excelsheet:
The Turkmenistan country report is complemented with a national power generation dashboard (excel file) from our Power Plant Tracker Service.
Data included in the excelsheet:
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