The Turkmenistan government had announced that Malaysian state oil firm Petronas could produce up to 5 billion cubic metres of gas annually in the Turkmen portion of the Caspian Sea with opportunity to double up the capacity in the near future.
Petronas had invested about $2 billion in the Caspian shelf project since 1996 and is likely to be the sourced for the planned Nabucco project. The Nabucco project will be responsible to ship gas volumes of Central Asian gas to Europe.
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