Ashgabat to host int’l oil & gas forum

Presently, fundamental changes are underway in the oil and gas sector of Turkmenistan. At the same time the infrastructure of industry is developing and diversification of export routes for delivery of the Turkmen oil and gas is taking place, the message said.

The survey of the Turkmen sector of the Caspian Sea is of paramount importance, as is the exploration of the Galkynysh super-giant gas field and the construction of the transnational Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline.

The development of huge fuel and energy resources in cooperation with major business partners representing world powers and leading companies, considering the favorable geographical location of Turkmenistan, opens up wide opportunities for further advancement, the organizers said.

The last year’s similar conference in Ashgabat involved 328 delegates from 37 countries.

The ministries of energy of Russia and Georgia, the European Commission, the US Department of State, the International Energy Charter, as well as Exxon Mobil, Azerbaijan’s state oil company SOCAR, BP, Hyundai Engineering Co. Ltd, Samsung, Dragon Oil, Petronas Carigali, CNPC, ENI, Axis, Total, ILF Consulting Engineers, Burckhardt Compression AG, Westport Trading Europe Limited, Capex, Albemarle Chemicals, Burintekh, Honeywell, Morinzhgeology, Wood Group, Inter State Gas Systems, Allen & Overy were represented in the forum.

On the sidelines of the forum, business meetings were held between top managers of Turkmenistan’s fuel and energy industry and heads of foreign companies.

Turkmenistan in the CIS ranks second after Russia in terms of natural gas reserves. At this stage, the main gas buyer is China. In accordance with the program for development of the oil and gas industry of Turkmenistan, it is planned to bring the annual production of gas to 250 billion cubic meters and oil to 110 million tons in 2030.

In order to fulfill these tasks, large-scale work will continue on exploration, production, transportation, processing of oil, natural gas, provision of domestic market with oil products, as well as on the development of export routes for the supply of natural gas and oil products.

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