Turkmenistan Aims to Produce 449bcm of Gas in 2012-16

Turkmenistan plans to produce a total of 448.7 billion cubic metres (bcm) of natural gas in 2012-16, Reuters reported citing the state media.

Average annual output of around 90 bcm targeted by the state programme is significantly higher than official and independent data for Turkmen production last year.

Last month, BP in a report had put Turkmenistan's 2011 natural gas output at 59.5 bcm, or 40.6 per cent higher than in the previous year.

Industry analysts have until now put Turkmenistan's production potential at 75 bcm a year. They say that for several years until 2011, actual output was well below 50 bcm due to small exports to the nation's traditional market, Russia.