The Turkmen national gas company Türkmengaz and the state hydrocarbon exploration corporation Türkmengeologiýa will receive more than 234.5 million manats in state loans to finance works aimed at increasing natural gas production in the country.
The resolutions on the allocation of funds was signed by President Gurbanguly Berdimuhamedov during the working meeting with the heads of the country’s finance-economic and oil-gas complexes on Wednesday.
In accordance with the document, to ensure the timely implementation of the works envisaged to increase the volume of natural gas production in Turkmenistan, Türkmenbaşy Joint-Stock Commercial Bank will loan more than 159.5 million manats to Türkmengaz and 75 million manats to Türkmengeologiýa.
The Head of State said the allocation of state credit funds to increase the economy's potential vividly demonstrates the financial power of Turkmenistan and expressed confidence that this would benefit the country.
During the meeting, President Gurbanguly Berdimuhamedov also expressed confidence that the tasks set in the Action Plan to increase the volume of natural gas production by increasing new oil and gas fields and their development will be successfully implemented in the coming years.
The industrial development of newly discovered gas fields in Turkmenistan resulted in the increase of the country's natural gas resources by 126 bcm in 2021.