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- GENERAL OVERVIEW
- INSTITUTIONS AND ENERGY POLICY
- ENERGY COMPANIES
- ENERGY SUPPLY
- ENERGY PRICES
- ENERGY CONSUMPTION
- ISSUES AND PROSPECTS
- DATA TABLES
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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 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.
- 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.
largest gas reserves in the world
share of gas in power production
average annual increase in energy consumption since 2010
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.
Turkmengaz is the national gas production and marketing company, that also handles gas exports.
The main foreign companies involved in the development of offshore fields are Eni (production zone of Nebit Dag), Petronas, CNPC and Dragon 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).
Electricity subsidies formally started in 1993 and in 2003 were extended until 2020. A limited quantity of electricity was supplied free of charge to the population (35 kWh/month from 1993 to 2016 and 25 kWh until October 2017).
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$46bn in the oil sector until 2025.
- GRAPH 1: CO2-energy Emissions (MtCO2)
- GRAPH 2: Installed electric capacity by source (2020, %)
- GRAPH 3: Gross power production by source (TWh)
- GRAPH 4: Power generation by source (2020, %)
- GRAPH 5: Gasoline & diesel prices (US$/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, %)
- 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.
The Turkmenistan energy market data since 1990 and up to
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:
- Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO2 emissions.
- Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
- Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
- Energy Balance: total and per energy.
- Turkmenistan Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Turkmenistan energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO2 emissions (from fuel combustion).
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:
- New capacities: Current power mix, installed capacity at date, capacity under construction and under development.
- Power Sector Performances: Historical data on installed capacity, power generation, thermal power plants inputs, average thermal power plant efficiency, CO2 emissions of the power sector, carbon factor of the power sector.