Oxford – Turkmenistan: The Gas Monetization Challenge, September 2024

Turkmenistan, a country with significant natural gas reserves, has struggled to match the gas production levels of the Soviet era. Despite having ample resources, challenges such as underinvestment, restrictions on foreign investment, and economic and geopolitical factors have hindered the country's gas sector performance. Turkmenistan's gas exports peaked in 2008 but have since remained below previous levels. The country has limited access to its gas sector, with the exception of a production sharing agreement with CNPC. Despite existing export infrastructure capacity that exceeds current gas exports, planned projects like the TAPI pipeline and a trans-Caspian gas link aim to increase export capacity to key markets such as China.