The People''s Republic of China will provide a purpose loan worth US $ 3 billion to Turkmenistan for commercial development of Southern Yoloten gas field. An agreement to this effect was reached during talks on cooperation in the energy sphere held by the delegation of Turkmenistan in Beijing. Vice-Prime Minister Tachberdi Tagyev informed the president of Turkmenistan about this at a meeting of the Cabinet of Ministers of Turkmenistan.

"Diversification of mutually beneficial cooperation is a fundamental principle of the energy policy of Turkmenistan. In this regard, China, who is successfully implementing a number of large-scale projects in Turkmenistan, including exploration and development of hydrocarbon resources on the right bank of Amudarya river, is among our strategic partners," Gurbanguly Berdimuhamedov said.