Turkmenistan hands over the next stage of “Galkynysh” development to China: the contract with CNPC raises questions
The State Concern “Turkmengaz” has signed a new contract with the “China National Petroleum Corporation” (CNPC) as part of the fourth phase of developing one of the world’s largest gas fields — Galkynysh. This was reported by the state news agency TDH. According to the terms of the agreement, the Chinese company will handle the design and “turnkey” construction of facilities, as well as production wells providing the preparation of up to 10 billion cubic meters of commercial gas per year.
How the signing took place The tender for the implementation of the project was announced back in April 2025 during the Economic Investment Forum of Turkmenistan. The Chinese side emerged as the winner. The final decision to conclude the contract was formalized by a decree of the President of Turkmenistan, Serdar Berdimuhamedov, on March 20, 2026. At the same time, the Turkmen side had announced CNPC’s victory in advance: back on September 2, 2025, the President personally notified PRC President Xi Jinping of this during his visit to China. Immediately before the signing of the agreement, on March 18–19, Gurbanguly Berdimuhamedov visited China, during which he held talks with both Xi Jinping and the head of CNPC, Dai Houliang. In addition to the development of Galkynysh, the parties discussed other energy projects, including the TAPI gas pipeline, for which Turkmenistan continues to seek international investors.
Galkynysh is considered one of the largest gas fields in the world and a key asset of the Turkmen economy. It is with this field that the main gas export supplies are connected, primarily to China, which remains the main buyer of Turkmen fuel. The transfer of the next stage of development to a Chinese company confirms the deepening of Turkmenistan’s energy dependence on the People’s Republic of China.
Context: accidents and possible concessions The contract was concluded against the background of recent problems at the field. In 2023, at least two accidents occurred at Galkynysh, leading to disruptions in gas supplies to China. Economic observers previously suggested that such incidents could have strengthened the negotiating position of the Chinese side. Opinions expressed in the expert community suggested that CNPC could have secured more favorable terms in exchange for continued cooperation and participation in new stages of the field’s development. The conclusion of a new contract again raises the question of the transparency of Turkmenistan’s energy policy. Key decisions are made without public discussion, and the details of agreements remain closed to the public. Meanwhile, the country’s dependence on a single strategic partner is intensifying. In the absence of diversification of export markets and investments, this creates long-term risks for Turkmenistan’s economic sovereignty. Against the backdrop of constant government statements about a “multi-vector policy,” the actual situation demonstrates the opposite: key energy assets and infrastructure projects are being integrated more deeply into the orbit of China’s interests. The question of how much such decisions correspond to the national interests of the country and its citizens remains open.
