Turkmenistan's state gas company and China's CNPC signed a deal on April 16 to build the fourth phase of Turkmenistan's Galkynysh gas field, which produces much of the country's annual 30 billion cubic meters in gas exports to China.
Under the deal, CNPC will build a facility for processing an additional 10 bcm of commercial gas per year at the field in the deserts of eastern Turkmenistan, along with drilling new production wells.
A Turkmen government source told the project will be entirely financed by Turkmenistan. Turkmengaz head Maksat Babaev told Reuters that it will cost $5.1 billion, and service both domestic and export markets.
No further details on the deal were available.
