(MENAFN- Trend News Agency) ASHGABAT, Turkmenistan, April 25. Turkmenistanhas announced the prequalification of an international tender forthe construction of an underground gas storage facility, Trend reports.
Maksat Babayev, Chairman of Turkmenistan's Turkmengaz StateConcern, made the statement at the International Forum to AttractForeign Investments in Turkmenistan's Energy Sector, which is beingheld in Paris.
According to him, the establishment of such a storage facility willhelp to balance seasonal swings in natural gas production andconsumption while also ensuring the stability of exportsupplies.
Meanwhile, at a government meeting early last year, Turkmenistan'sDeputy Chairman of the Cabinet of Ministers, Shakhym Abdrakhmanov,announced that the country will begin designing and building thecountry's first underground gas storage facility to assurereserves.
Turkmenistan ranks fourth in the world in terms of provennatural gas reserves after Russia, Iran, and Qatar.
Data from the Turkmengaz State Concern shows that the country'shydrocarbon resources are estimated at more than 71 billion tons ofoil equivalent.
This volume includes more than 20 billion tons of oil and morethan 50 trillion cubic meters of natural gas.
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