Turkmenistan’s Energy Policy: The Diversification of Gas Export MarketHaving possessed some of the world’s largest natural gas reserves, Turkmenistan is also one of few producer countries – and the only former Soviet republic – that is able to export more than half of its gas production, due to its small population (six times smaller than Uzbekistan’s, for instance) and relatively low level of industrialization. Its position in global energy market has significantly shifted in recent years, owing to the recent audit results of its major fields, as well as its increasingly active interest in diversifying export routes. Meanwhile, according to the International Energy Agency’s New Policies Scenario for 2015, the global market for natural gas is expected to expand by 47% by 2040, bringing it towards parity with coal as the second largest fuel resource in the global energy mix, what further increases the role of Turkmenistan mostly for Asian non-OECD states – which account for the biggest increase of demand throughout these years. Turkmenistan is already the largest foreign supplier of natural gas for China,demand from South Asia is on the rise, and Europe has shown greater interest in diversifying its supply of energy since post-Maidan period.

 

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