Ashgabat to welcome again global actors of oil and gas industry

The International Conference and Exhibition “Oil and Gas of Turkmenistan-2022” will foster a dialogue between major companies.

On the eve of the large-scale international oil and gas forum in the capital of Turkmenistan, a permanent author and economic observer of the portal for Turkmenistan Valentin Trapeznikov provided the real development indicators of Turkmenistan’s fuel and energy sector and international cooperation in this sphere.

“All flags will visit us!”

Ashgabat will host the XXVII International Conference and Exhibition “Oil and Gas of Turkmenistan-2022” on October 26-28, 2022. This annual forum attracts major oil and gas companies and organisations and hydrocarbon consumers from all over the world.

This is explained by some objective factors. The crucial one is that Turkmenistan has long been a recognized energy power. For example, the reserves of one of the world’s largest gas fields Galkynysh are estimated at almost 27 trillion cubic metres, and those of the Turkmen sector of the Caspian Sea at 12.1 billion tonnes of oil and condensate and 6.1 trillion cubic metres of gas.

Turkmenistan seeks to put such a tremendous hydrocarbon potential at the service of the world community, making consistent efforts premised on the existing and adopted state programmes, foreign investment and international cooperation with major foreign oil and gas companies.

Record-breaking gas production

In recent years, such an active policy has yielded positive results. For example, in 2021, Turkmen natural gas production hit a record of over 83.77 billion cubic metres, which is 20% more than in 2021.

For 9 months of the year, the implementation of the natural and associate gas production plan was 115.3%, “blue fuel” export – 125.9%, oil production – 100.7%, oil refining – 110.9%, gasoline production – 115.7%, diesel fuel production –111.6%, polypropylene production – 122.3%, lubricating oils production – 101.1% and liquefied gas production – 113.9%.

External vectors

International cooperation is an important factor contributing to the growth of oil and gas production and processing. For example, Turkmenistan most actively cooperates in gas production with China National Petroleum Corporation (CNPC) in developing the gas fields in the Bagtyyarlyk contract area under the Production Sharing Agreement that is one of the sources of raw materials for the Central Asia-China transnational gas pipeline, three branches of which are capable of exporting 55 billion cubic metres of “blue fuel” a year.

Since it was put into operation in late 2009, over 334 billion cubic metres of natural gas have been supplied from Turkmenistan to China. In the future, it is planned to build the fourth branch of the pipeline that will allow increasing exports of natural gas to 65 billion cubic metres a year.

Our country also exports gas to the Russian Federation via the Dovletabat-Deryalyk gas pipeline and supplies natural gas to Azerbaijan through Iran under the swap deal.

The Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, designed to supply “blue fuel” to South Asia, is in the implementation phase.

The implementation of the Trans-Caspian gas pipeline project is also seen as promising.

Raw material potential dictates the development of industry

Our country actively cooperates in onshore and offshore oil production with such well-known companies as Dragon Oil (UAE), Petronas (Malaysia), Eni (Italy), Tatneft (Russian Federation), Yug-Neftegaz Private Limited (Republic of Singapore) and Petro Gas LLP (UK), among others, as well as Azerbaijan on the joint development of the Dostluk field in the Caspian Sea.

Over the years of independence, the above companies have invested tens of billions of dollars in Turkmenistan’s oil and gas industry.

Oil and gas resources serve as a raw material base to develop the oil and gas chemical industry, mineral fertilizer production and electricity generation. They are used by many unique enterprises, including the Turkmenbashi complex of oil refineries, the Kiyanly gas chemical plant, the GTG plant in Ahal velayat, the Marykarbamid plant and Garabogazkarbamid plant, nearly all power plants and numerous private polymer and chemical plants.

In general, oil and gas production and processing plants make a huge contribution to enhancing the export potential of Turkmenistan. For 8 months of the year, Turkmenistan’s exports of oil, gas, petroleum products, fertilizers, electricity, polymers, etc. totalled over $7 billion.

24 10 2022, 08:55
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