Turkmenistan Oil and GasCompanies (2024 - 2029)

Turkmenistan Oil and Gas Market Companies Summary

The oil and gas market in Turkmenistan has been affected by the COVID-19 pandemic but is now recovering to pre-pandemic levels. The growth of this sector is expected to be driven by increasing investments and rising production of gas. However, the reluctance to open up Turkmenistan to foreign investment could potentially hinder expansion plans. Despite this, there are several gas pipelines under construction which are expected to create new markets for natural gas exports and provide opportunities for firms in the oil and gas sector. The midstream sector, which involves the transport and storage of crude oil and natural gas, is expected to witness significant growth. This is due to increased consumption of natural gas, leading to heavy investment in natural gas processing plants. Further, a number of agreements and plans have been made to increase natural gas exports, and ongoing investments and developments in the midstream sector are expected to boost the market. On the other hand, the Turkmenistani oil industry is highly dependent on natural gas resources. Increased oil production and consumption, along with new investments in the gas chemical complex, are expected to drive the growth of this industry. The oil and gas market in Turkmenistan is moderately consolidated with a few major players dominating the market.