The giant oil and gas fields -- such as Absheron, Azeri-Chirag-Guneshli and Shah Deniz in Azerbaijan; Karachaganak, Kashagan and Tengiz in Kazakhstan;Galkynysh, Shatlyk, South Gutliyak and South Iolotan
in Turkmenistan; and Gazli, Kokdumalak, Shakhpakhty and Shurtan in Uzbekistan -- place the Caspian region among the richest worldwide with proven oil and gas reserves, according to the IEA.
China is in the midst of substantial deals in the Central Asian energy sector, lending $3 billion to Turkmenistan to develop the South Iolotan
field in 2009 and $10 billion to Kazakhstan to pay for future oil supplies.
Turkmenistan aims to supply natural gas from its Galkynysh field, better known by its previous name, South Iolotan
, to Pakistan and India.
The field, named after the Turkmen word for renaissance, is better known by its previous title, South Iolotan
Natural gas for the pipeline would be drawn from the South Iolotan
deposits, currently under development and the existing Duletabad field.
Summary: An independent auditor ranked Turkmenistan's South Iolotan gas field as the world's second-largest and raised its reserve estimate Tuesday for the deposit, underpinning the Central Asian state's ambition to rival Russia as a key energy supplier.
ASHGABAT: An independent auditor ranked Turkmenistan's South Iolotan gas field as the world's second-largest and raised its reserve estimate Tuesday for the deposit, underpinning the Central Asian state's ambition to rival Russia as a key energy supplier.
Moreover, China agreed to a loan of $3 billion to Turkmenistan to assist in developing the South Iolotan
gas field to feed the Central Asian Gas Pipeline (Energy Information Adminstration 2009a).
The Saryk Turkomans living in the Iolotan
Oasis had another local breed of sheep, the saryk goyun, which was tall, had a large kuirik, and produced a lot of wool.
Still, South Iolotan
development (regarded among the top five gas fields in the world) presents major challenges and Turkrnengaz's ability to integrate and commission the field and facilities will concern China.
Peter Holding, the GCA chief for Russia and Caspian region, said Wednesday, "It appears that the South Iolotan
field is now easily the world's second-largest gas field in terms of gas-in-place."