Turkmenistan cuts 2008 gas output target

Nov 20, 2008 01:00 AM

Turkmenistan, central Asia's largest natural gas producer, will cut gas output to 50 bn cm this year from last year's 72.3 bn cm, Oil and Gas Minister Annaguly Deryaev said.
"We plan to produce 50 bn cm (this year)," Deryaev told an energy conference in Ashgabat.

The government had previously said Turkmenistan would produce 81.5 bn cm this year, but the country halted supplies to neighbouring Iran in the first quarter amid a pricing row which led to a cut in output.
Turkmenistan and Iran are due to sign a new supply agreement in December.

Turkmenistan sells most of its gas to Russia's Gazprom, but seeks to develop new fields and diversify exports.
Deryaev also said Turkmen oil output would be 10 mm tons this year, the same as last year.

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