Turkmenistan and China will accelerate the implementation of the second phase of industrial development of the Galkynysh field, the world's second-largest gas field located in Turkmenistan’s Mary province, according to the Joint Statement of Turkmenistan and the People's Republic of China signed by Presidents Serdar Berdimuhamedov and Xi Jingpin in Beijing on Friday.
The document was signed following summit talks held within the framework of Turkmen President’s two-day state visit to China.
According to the joint statement, the parties note the importance of cooperation between Turkmenistan and China in the gas field and emphasize that the scheme of complex cooperation in this area is being formed production, pipeline transportation, trade, financing and technical support.
“Turkmenistan and China are strategic partners in the energy sphere.Adhering to the principles of mutual understanding, sincerity, openness and mutual benefit, the sides will continue to fully implement the existing agreements, advance the gas cooperation negotiation process, accelerate the implementation of the second phase of industrial development of the Galkynysh gas field, construction of Line D of the Turkmenistan-China gas pipeline and other major joint projects, and intensify cooperation in the gas industry,” the document reads.
Turkmenistan currently exports its natural gas to China via three pipelines passing along the Turkmenistan-Uzbekistan-Kazakhstan-China route. The pipeline system is capable of transporting 55 bcm of gas a year, with majority of the supplies provided by Turkmenistan and the rest provided by Kazakhstan and Uzbekistan.
The agreement on the construction of the fourth branch of a gas pipeline from Turkmenistan to China was agreed in February last year. It’s commissioning is expected to allow Turkmenistan to increase its annual gas deliveries to China by up to 65 bcm.