Russia intent on working with Turkmenistan on oil, gas, gas storage - Novak

ASHGABAT. Jan 20 (Interfax) - Russia is intent on cooperating with Turkmenistan in the area of oil and gas, including the creation of underground gas storage (UGS) facilities in the Central Asian country, Russian Deputy Prime Minister Alexander Novak told reporters.

"We agreed that we will continue cooperation. We genuinely have avenues for developing cooperation in all sectors, foremost the oil sector and in gas - construction of underground gas storage facilities," Novak was quoted as saying by TV channel Rossiya24.

Turkmenistan's leadership recently announced plans to begin building gas storage facilities in the country. At a government meeting on January 13, Deputy Prime Minister Shahym Abdrakhmanov, who oversees the oil and gas sector, reported to President Serdar Berdimuhamedov on the construction of UGS to ensure reserves of commercial gas.

He said there are plans to engage international consulting companies for the project to carry out the work in line with international practices, prepare a feasibility study, and design, equip and build the facilities.

Turkmenistan currently exports natural gas to China and Russia, and carries out swap gas deliveries to Azerbaijan through Iran. Ashgabat is also implementing the project to build the Turkmenistan-Afghanistan-Pakistan-India gas pipeline.

Turkmenistan's proven natural gas reserves are estimated at 13.95 trillion cubic meters, BP data show. The country increased gas production to 79.3 bcm in 2021 from 66 bcm in 2020, according to BP. Gas consumption in the country grew by 24.2% to 36.7 bcm in 2021.