DEC. 26 (The Conway Bulletin) — Gas supplies to China from Turkmenistan fell by 7% in November although compared to the same period in 2016 volumes have still increased, Reuters reported quoting Chinese customs data.
There has been no official explanation from either Turkmenistan or China on the gas supply drop but the slump will pile extra pressure onto the already-faltering Turkmen economy.
Turkmenistan’s economy is dependent on its gas sales to China. It is China’s largest supplier, providing it with 40% of its imports. Chinese data showed that imports from Turkmenistan were 1.592m tonnes, down from 1.71m tonnes in October. This is still 11% higher than a year earlier.
Turkmenistan’s economy is already under pressure from the collapse in energy prices since 2014.
Turkmen Pres. Kurbanguly Berdymukhamedov has sacked ministers and other officials as he looks to shift blame. The government has also cut subsidies for utilities and reports have said that the Black Market price of the US dollar has soared against the Turkmen manat.
ENDS
— This story was first published on Jan. 5 2018 in issue 356 of The Conway Bulletin