Representatives of large foreign companies noted the great potential of the oil and gas sector of Turkmenistan.
On October 27-28, the 26th International Conference «Oil and Gas of Turkmenistan — 2021» was held at the Chamber of Commerce and Industry of Turkmenistan. The event was attended by a large number of international companies from all over the world. At the event, a number of important documents on cooperation were signed. In an interview to CentralAsia.news the chief editor of the newspaper «Oil and Gas» Ussa Ussayev shared the conference details.
The forum brought together leaders and key experts of the relevant ministries and departments, as well as more than 150 international companies from around the world, including CNPC, Petronas, Lukoil, Dragon Oil, SOCAR, ARETI International Group, representatives of major energy giants such as Yug-Neftegaz Private Limited. The conference was attended by over 400 people, representatives of more than 100 companies, international organizations and large banks from 32 countries of the world.
It indicates that business circles of different countries are interested in mutually beneficial cooperation with Turkmenistan in the oil and gas sector.
Deputy Prime Minister Shahim Abdrahmanov opened the OGT-2021 forum and read aloud a congratulatory message to the participants from President of Turkmenistan Gurbanguly Berdimuhamedov. The Turkmen leader emphasized that the annual international conference aimed at widely familiarizing the world community with the achievements of the national oil and gas industry and sharing experience with foreign partners in this area is focusing on finding, developing and coordinating the work of the industry in accordance with international standards.
— Positive results are yielded by the work carried out within the framework of the energy strategy of the state in order to use the country’s hydrocarbon resources in the interests of the Turkmen people and the peoples of other countries, — marked the head of the state.
OPEC and Turkmenistan
During the conference, a general meeting to discuss the future of the power system was held. The keynote speech was delivered by the Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammed Barkindo.
His speech aroused great interest among the forum participants. According to the OPEC leader, the organization is ready to strengthen relations with Turkmenistan on a number of issues of mutual interest, primarily to ensure stability in the international oil market.
Barkindo stressed that relations between OPEC and Turkmenistan have great potential. According to him, since Turkmenistan gained independence, the development of the country’s economy has reached a record level. At the same time, the oil and gas industry played an important role in expanding the potential of the national economy.
Turkmengaz and Haldor Topsoe
Within the framework of the forum, presentations and negotiations with the participation of heads of the country’s oil and gas complex, as well as heads of the world’s leading oil companies, international organizations and financial institutions were held.
During special sessions, participants discussed investment opportunities in the oil and gas sector, and also heard reviews of investment projects.
The State Concern Turkmengaz and the Danish company Haldor Topsoe (the world leader in catalysis) agreed to continue cooperation in the production of ammonia and methanol through the monetization of natural gas. Within the framework of the forum, the parties signed a memorandum of understanding.
At the signing ceremony, Peter Christenson, Managing Director of Haldor Topsoe, expressed confidence that the relevant projects will become another example of the efficient use of gas resources of Turkmenistan and create additional benefits and value for the country and its citizens.
Petro Gas LLP
On the first day of the conference, a number of other documents on cooperation with foreign businessmen were signed. These are an agreement between the state corporation Turkmengeologia and the Singapore company Yug-Neftegaz Private Limited, a contract for the development and construction of a third shipyard for processing oil and oil products at the coastal loading and unloading oil refinery of the Turkmenbashi complex of oil refineries between TCOR and Petro Gas LLP (Great Britain).
Live broadcast from the exhibition pavilion of Turkmenistan at the World Exhibition «EXPO-2020» became an important event in the framework of the XXVI International Conference «Oil and Gas of Turkmenistan-2021». Its participants discussed one of the most important issues of the day — the transition to a low-carbon future through the use of natural gas and alternative energy sources.
The teleconference was moderated by Muhammetmyrat Amanov, executive director of TAPI Pipeline Company Limited. The negotiations were attended by the Ambassador of Turkmenistan to the UAE Serdarmammet Garajayev and the Director General of Dragon Oil Ali Rashid Al-Jarwan.
Dragon Oil will increase oil production
The head of the company said that within the framework of the project, the company will produce 60,000 barrels of oil per day, and in the future it is planned to increase production to 80,000 barrels per day. He noted that these large-scale works are the fruit of successful cooperation with the Turkmennebit State Concern. In the near future, the volume of capital invested in the project will increase to 9 billion dollars, added Ali Rashid Al-Jarwan.
TAPI: environmentally friendly fuel
Important energy projects in Turkmenistan can make a significant contribution to reducing emissions. In this regard, the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline can provide the developing economies of the countries participating in the project with cheap and environmentally friendly fuel.
During the online meeting, it was noted that the reduction in prices for wind generators and solar panels, as well as their technical improvement, showed that these renewable energy sources can play an important role in the world’s energy systems.
London and Ashgabat: Green Energy
The event was also attended by the British Prime Minister’s Special Trade Representative for Turkmenistan, Baroness Emma Nicholson. She informed the forum participants about the UK’s vision for the further development of economic cooperation with Turkmenistan, in particular in the field of clean energy.
According to her, Turkmenistan has great potential for transition to a low-emission economy and low-carbon development, as well as the introduction of alternative energy sources — wind and solar energy.
In this regard, Nicholson noted that «green» energy can become a promising area of cooperation between the two countries.
Other important issues such as trends and analysis of global energy transfer, the role of the digital system in this work, the possibility of using hydrogen as a fuel of the future and the role of natural gas in the transition to clean energy were discussed as well.
Thus, for the first time, videoconferencing between two major international forums helped generate effective ideas for environmental protection and climate change.
ARETI: Turkmenistan is a huge energy producer
ARETI CEO Igor Makarov, who took part in the forum, said that Turkmenistan, as a major energy producer with large reserves of hydrocarbons, has a developed structure and is committed to the modernization and development of its economy, and is now of great interest to world investment institutions.
The businessman noted that extensive geological exploration and construction work in the field of hydrocarbon resources is carried out in Turkmenistan, the volumes of production, processing and export of energy resources are increasing.
According to Makarov, ARETI is actively involved with Turkmen partners in the development of investment projects in the field of hydrocarbon production and field development, as well as in the modernization and development of the oil and gas sector of Turkmenistan.
Turkmenistan is a reliable partner on the world stage
Minister of Finance and Economy of Turkmenistan Muhammetgeldi Serdarov paid special attention to cooperation of Turkmenistan with large international organizations. He noted that the country is actively cooperating with authoritative structures of the international level and has established itself as a reliable partner.
Turkmenistan has joined dozens of international conventions, including financial conventions on investments. The state actively cooperates with the World Bank, which contributes to the sustainable development of the Turkmen economy.
US Ambassador about the conference
During the international conference, the US Ambassador to Turkmenistan Matthew Klimow, in an interview to Ussayev, noted the high level of organization of the XXVI International Conference «Oil and Gas of Turkmenistan-2021», the rich content of the speeches and the importance of the topics presented.
— This forum helped me to get information on how Turkmenistan will use its oil and gas potential in the future, — said the diplomatic representative of the USA.
Address to the President
At the end of the forum, the participants addressed Berdimuhamedov and expressed their sincere gratitude to the President for the opportunity to take part in an international conference dedicated to familiarizing the world community with the potential of the oil and gas industry of Turkmenistan.
Foreign experts, scientists and experienced specialists noted that the oil and gas industry of Turkmenistan has great potential, which can be realized through mutually beneficial projects.