DUSHANBE, August 20, Asia-Plus – Tajikistan could become more self-sufficient in energy if it can find major investors to fund the development of two deep oil and gas deposits, say NBCentralAsia experts.
Zarubezhneftegaz, a subsidiary of the Russian energy giant Gazprom, is due to complete an assessment of possible gas reserves at Sargazon in Tajikistan’s southern Khatlon oblast by the end of August.
Gas reserves at Sargazon are estimated at 35 billion cubic meters, while another deposit, at Rengan near the capital Dushanbe, is thought to contain the same amount.
Zarubezhneftegaz, in which the Tajik government has a 25 per cent share, has a license to exploit both deposits.
According to the government’s geological agency Tajikglavgeologia, Soviet-era research indicates that Tajikistan could have around 900 billion cubic meters of gas and 120 million tons of oil, but the reserves are so deep that it would be very expensive to work them.
NBCentralAsia experts say the country would be able to solve its energy shortages if could attract enough investment to develop these tricky deposits.
According to the economy and development ministry, Tajikistan needs two billion cubic meters of gas a year, but only a third of that amount produced locally. Tajikistan extracts 30 million cubic meters of gas a year, and imports 700 million from Uzbekistan.
Tajikistan has the largest hydroelectricity capacity in Central Asia, yet most of the country has to make do with two to three hours of electricity during winter, when there is a shortfall in generation.
According to Alexander Ahmedov, an expert with Tajikglavgeologia, the two untapped reserves at Sargazon and Rengan could relieve the country’s energy shortage, but “massive investment would be needed to get accurate reserve estimates and begin development”.
Holnazar Muhabbatov, head of regional economics at the Tajik ministry of economic development and trade, believes the government will only attract major world extraction companies if it offers them incentives like tax breaks and reduced customs fees.
“Preliminary estimates suggest there is quite a lot of oil and gas reserves at the more promising sites,” he said.
