China National Petroleum Corporation (CNPC) will receive up to 51 billion cubic meters of gas from Turkmenistan in exchange for assistance to increase production at the Galkynysh field, Report informs.
CNPC Chuanqing Drilling Engineering Company Limited has won a tender to construct three new wells at a giant gas field according to the international classification in the Mary region of Turkmenistan.
The capacity of each well is about 3 million cubic meters of gas per day. Their construction project is designed for 30 months. In accordance with the previously concluded agreements, the payment for the services of the Chinese company will be made through the annual supply of 17 billion cubic meters of gas to China within three years.
China is already the primary market for Turkmen gas. However, the country also sells limited quantities to Russia and is working on a pipeline to supply its gas to Afghanistan, Pakistan, and India.