ASHGABAT, Turkmenistan, April 22. Growing
demand for natural gas from China is set to underpin Turkmenistan’s
fiscal stability and economic growth in the coming years, the Asian
Development Bank's April 2026 outlook says, Trend reports.
According to information, hydrocarbon export revenues will
remain the backbone of public finances, with steady demand from
China expected to sustain budget revenues. The report notes that
energy cooperation between the two countries is likely to deepen as
China continues shifting from coal to natural gas.
The fiscal balance is projected to remain close to equilibrium,
while government spending will continue to focus on social support
measures, including price controls and subsidies for basic food
products.
The ADB highlights that several key drivers will shape
Turkmenistan’s economic growth trajectory. In the hydrocarbon
sector, priority will be given to further development of major
fields such as the Galkynysh Gas Field, alongside progress in the
Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline and
expansion of gas-processing industries, including gas-to-gasoline
production.
Earlier, in March 2026, Turkmengaz State Concern and the China
National Petroleum Corporation (CNPC) signed a contract for the
turnkey design and construction of facilities for the development
of the fourth phase of the Galkynysh gas field, one of the largest
in the world. The project is expected to enable annual production
of up to 10 billion cubic meters of gas, supporting the expansion
of Turkmenistan’s export capacity.
