Turkmenistan's energy sector on agenda in London
By Aynur Karimova
The investment prospects of the oil and gas sector of Turkmenistan, as well as the major projects aimed at the development of the oil and gas industry of the country, including the maritime production and transportation of hydrocarbons will be high on the agenda of the two-day “Oil and gas industry of Turkmenistan – opportunities for investments” forum which kicked off in London on September 29.
Turkmen Petroleum and Mineral Resources Ministry reported that the meeting with representatives of business circles of the world in a round table format is organized by the State Agency for Management and Use of Hydrocarbon Resources under the Turkmen President.
Special emphasis will be placed on expanding international cooperation in the development of hydrocarbon resources of the Turkmen sector of the Caspian Sea, as well as the possibilities of their transportation to the world markets.
The participants of the round table will be informed about the new plans of Turkmen government on innovations in the legislation and opportunities for cooperation with foreign investors.
Moreover, the conference will highlight the great investment opportunities for foreign companies in Turkmenistan and will contribute to attracting new partners to the promising Turkmen market.
The round table is expected to be an effective platform for the discussion of new projects of the mutually beneficial partnership in the energy sector.
The dynamic development of the economy of Turkmenistan, its favorable geographic location, political stability and a favorable investment situation in the country, enshrined in the national legislation corresponding to the relevant international standards together with the huge hydrocarbon resources create significant incentives for the influx of foreign investments in the fuel and energy complex. This is strategically important for the country.
The projects for constructing Turkmenistan-Afghanistan-Pakistan-India gas pipeline, as well as for transportation of Turkmen natural gas to the European market through the Caspian Sea are being developed intensively.
Turkmenistan, which has the fourth largest proven gas reserves in the world, is actively implementing an energy strategy aimed at increasing exports of the blue fuel and diversifying its supply routes to the largest global markets, where the demand for energy resources is growing.
Turkmenistan’s hydrocarbon resources stand at 71.2 billion tons of oil equivalent, of which 18.2 billion tons account for license offshore blocks in the Turkmen sector of the Caspian Sea.
Being one of the key players in the gas market of the Caspian Sea region and Central Asia, Turkmenistan produces about 70-80 billion cubic meters of gas a year. It possesses some 17 trillion cubic meters of natural gas, with some estimates placing that figure upwards of 25 or 26 trillion cubic meters.
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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova
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