Turkmenistan: World's second largest holder of gas reserves

Oct 24, 2008 02:00 AM

After the independent certification of the Osman-Yoloton and Yashlar natural gas fields in eastern Turkmenistan, it is clear that Turkmenistan is the second largest holder of gas reserves in the world, with some 28 tcm of proven gas reserves.
The impression, created and sustained by some quarters, lingered for a long time that Turkmenistan has less than 3 tcm of gas reserves. There were several reasons for this:
-- Russia media and Gazprom wanted to convince the world that they have already bought whatever gas is available in Turkmenistan, and no one should waster their time in courting Turkmenistan.
-- Some western countries and companies, led by the United States, and heavily dependent on the erratic BP Statistical Review, were pulling futilely at the other end of the rope.
-- Despite ample evidence, it never occurred to anyone that Turkmenistan could be telling the truth. No one was willing to give even the slightest benefit of doubt to Turkmenistan.

The following table shows that Turkmenistan has the world's second largest proves gas reserves:

Ranking of countries by proven gas reserves

Rank -- Country -- Proven gas reserves (tcm) -- Date of estimate

1 -- Russia -- 47.57 -- 2006 est.
2 -- Turkmenistan -- 28.00 -- 2008 tentative est. (nCa)
3 -- Iran -- 26.37 -- 2006
4 -- Qatar -- 25.79 -- 2007 est.
5 -- Saudi Arabia -- 6.57 -- 2006 est.
6 -- United Arab Emirates -- 5.82 -- 2006 est.
7 -- United States -- 5.55 -- 2006 est.
8 -- Nigeria -- 5.02 -- 2006 est.
9 -- Algeria -- 4.36 -- 2006 est.
10 -- Venezuela -- 4.11 -- 2006 est.
11 -- European Union -- 3.31 -- 2006 est.

Source: Wikipedia / nCa

It is possible that with certification of more fields and discovery of new deposits, Turkmenistan could well emerge as the top reserve holder of natural gas in the world.
A comparison of the top ten gas fields in the world indicates that Osman-South Yoloton is the third largest gas field in the world:

Ten largest gas fields in the world

Rank -- Field -- Country -- Recoverable reserve (tcm)
1 -- South Pars / North Dome -- Iran / Qatar -- 34.9
2 -- Urengoy -- Russia -- 6.28
3 -- Osman-South Yoloton -- Turkmenistan -- 6.0 (best estimate, GCA, Oct 2008)
4 -- Yamburg -- Russia -- 3.9
5 -- Hassi R'Mel -- Algeria -- 3.4
6 -- Shtokman -- Russia -- 3.12
7 -- Zapolyarnoye -- Russia -- 2.69
8 -- Hugoton -- USA -- 2.29
9 -- Groningen -- the Netherlands -- 2.0
10 -- Bonavenko -- Russia -- 1.98

Source: Wikipedia / nCa

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