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Turkmenistan interested in further cooperation with Azerbaijan

21 November 2014 12:24 (UTC+04:00)
Turkmenistan interested in further cooperation with Azerbaijan

By Aynur Jafarova

Turkmenistan is interested in further intensifying partnership with Azerbaijan in all fields, Turkmen President Gurbanguly Berdymukhamedov said on November 20.

He made the remarks during a meeting with President of Azerbaijan’s state energy company SOCAR Rovnag Abdullayev who attended the Turkmenistan Oil and Gas Conference 2014.

Berdymukhamedov said Turkmenistan remains committed to the traditional interstate agreements based on the unbreakable bonds of friendship and good neighborhood and the principles of equal mutually beneficial cooperation.

During the meeting, the two sides noted that the openness of Turkmenistan’s foreign policy and the favorable investment climate create a reliable platform for developing fruitful relations in all fields, including in the oil and gas industry.
They also discussed the current unprecedented growth of the export potential of Turkmenistan’s fuel and energy complex noting that strengthening of the international cooperation in this sphere will allow achieving the goals of the international community for the third millennium.

In this context, Turkmenistan intends to take the most advantage of the huge hydrocarbon resources for the development of national economy and meeting the common interests.

SOCAR president, for his part, praised Turkmenistan’s initiative to create an international expert group under the UN auspices to work out a new international legal mechanism for ensuring the reliable and stable supply of energy to world markets.

Abdullayev also said the first meeting of the expert group, scheduled for December 2014, will be an important step in this regard which is in the interest of Azerbaijan as well.

Both Azerbaijan and Turkmenistan, two Caspian littoral countries, are interested in using alternative routes for transportation of energy resources from the resource-rich Caspian region to European markets.

Turkmenistan is one of the key players in the energy market of the resource-rich Caspian region. The Central Asian state has the world's fourth largest natural gas reserves after Russia, Iran, and Qatar. It produces about 70-80 billion cubic meters of gas each year.

The largest deposits of the country are concentrated in the Mary region in the east of Turkmenistan.

Turkmenistan intends to increase the production volume and export of natural gas, and diversify its routes of supply to major world markets as part of an energy strategy.

Azerbaijan, which has become an independent natural gas exporter to Europe, is also interested in offering transit, which can bring additional revenues to the country.

SOCAR have expressed its readiness to offer a diversified system of oil and gas pipelines, infrastructure and other opportunities to Turkmenistan for the implementation of projects in the oil and gas sector.

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