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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World Turkmenistan to boost gas deliveries to China By ALEXANDER VERSHININ,Associated Press - Wednesday, March 2 Send IM Story Print ASHGABAT, Turkmenistan – Energy-hungry China is set to sign an agreement with the Central Asian nation of Turkmenistan later this year to boost its future annual natural gas purchases by 20 billion cubic meters, state newspaper Neutral Turkmenistan reported Wednesday. The deal means Turkmenistan's annual gas sales to China will eventually reach 60 billion cubic meters _ equivalent to more than half China's entire natural gas consumption last year. Turkmenistan began delivering gas to China through a newly completed pipeline in late 2009, but that route is only expected to reach full annual capacity of 40 billion cubic meters by 2015. As of mid-February, Turkmenistan had supplied 5.8 billion cubic meters of gas through the pipeline, according to Chinese oil company CNPC. New pipelines will need to be built to allow the planned increase in deliveries. Turkmen President Gurbanguli Berdymukhamedov is set to visit China later this year to formalize the deal. Neutral Turkmenistan also reported that the China State Development Bank has agreed to loan state gas producer Turkmengaz an unspecified amount of money. The bank has already issued soft loans to Turmengaz worth $4 billion. Turkmenistan already has existing gas contracts with Russia and Iran, and has expressed ambitions to also begin exporting to Europe, Afghanistan, Pakistan and India. Some energy experts have expressed skepticism about the Central Asian nation's ability to meet that much demand, however. Beijing has been actively tapping into Central Asia's vast energy potential for several years now, but the last few weeks have seen an notable uptick in Chinese investment in the region. In February, Kazakhstan signed a long-term contract worth several billion dollars to supply uranium to China, part of a cooperation program with Guangdong Nuclear Power Co. Kazakh media cited President Nursultan Nazarbayev as saying Kazakhstan could eventually provide China with up 40 percent of its uranium requirements. ___ Associated Press writer Peter Leonard in Almaty, Kazakhstan, contributed to this report. Recommend Send IM Story Print Related Articles GLOBAL MARKETS-Oil, gold rise on Libya; U.S. stocks up on Fed Reuters - 22 minutes ago US-BUSINESS Summary Reuters - 28 minutes ago Gold mine group opposes planned U.S. disclosure rule Reuters - 28 minutes ago Deals of the day -- mergers and acquisitions Reuters - 36 minutes ago Instant View: Apple CEO Jobs takes stage at iPad event Reuters - 38 minutes ago News Search Top Stories Libya: live report Two US airmen shot dead at German airport Expressionism meets fashion on day two of Paris shows Kadhafi warns of bloodbath if West intervenes US growth 'modest to moderate': Fed More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Gold hits new record Libya: live report On the nose: Sharks are stunning navigators Global warming means more snowstorms: scientists 'Celebrity' WWI survivor to mark 110th birthday More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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