Turkmenistan and China have signed a deal making good on Turkmenistan President Gurbanbuly Berdimuhamedow's earlier promise to increase his country's natural gas shipments to China to 65 billion cubic meters per year (bcm/y).
The new agreement was signed formally between the two states' respective state companies Turkmengaz and China National Petroleum Corp (CNPC). The new quantity is more than double the 30 bcm/y originally envisioned at the start of the project in 2007, and more than half again as much as the 40 bcm/y that had been agreed in 2008 as an increased level.
The announcement represents yet another blow against Russia's hopes to export up to 68 bcm/y of Siberian gas to China. Russia's President Vladimir Putin left Beijing last week after a series of bilateral meetings in the margin of a Shanghai Cooperation Organization summit with no price agreement over the deal. The original memorandum of understanding between Gazprom and CNPC was signed back in 2004, but since then China has diversified its sources of gas imports.
Copyright 2012, Online Asia Times. All rights reserved.
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