Bloomberg reported that Turkmenistan, the holder of the world fourth largest natural gas reserves will start pumping first gas from its South Yoloten field to China in late 2013.

The company said in a statement that Petrofac an oilfield services and engineering provider is working on the USD 3.4 billion second phase of the South Yoloten field development. The project will take about 32 months to reach 10 billion cubic meters a year of pumping capacity which later can be doubled.

Mr Ayman Asfari Chief Executive Officer said “The Chinese are building the pipeline. The development can be the trigger and the driver for development of additional gas prospects in the eastern part of the country.”

(Sourced from Bloomberg)