Turkmenistan has confirmed its status of global energy power

An expert Valentin Trapeznikov said the agreements worth over $100 million were signed on the OGT-2022 sites.

A regular contributor and economic observer of CentralAsia.news for Turkmenistan Valentin Trapeznikov placed another analytical review on the pages of the edition. In his new article, the expert confirmed that the XXVII International Conference and Exhibition “Oil and Gas of Turkmenistan-2022” (OGT-2022), which was held in Ashgabat on October 26-28, has become another evidence of the international authority of Turkmenistan in the global energy sector.

Turkmenistan is the biggest oil and gas centre

The scale of the OGT-2022 forum and exhibition can be judged by the fact that they brought together more than 500 national and foreign delegates and more than 40 companies, including more than 10 foreign and about 100 delegates online. Foreign participants were represented by the delegations from Azerbaijan, UK, Austria, China, Malaysia, UAE, Russia, Singapore, US, Turkey and Japan, among other countries.

The conference focused on the development of energy markets and the opportunities for cooperation, development and optimization of resource extraction at existing and new oil and gas fields through attracting foreign investment, including for the development of offshore blocks in the Turkmen sector of the Caspian Sea.

The speakers noted that Turkmenistan has come a long way in becoming a global energy power. The completed and future large-scale projects are of great importance both for the region and for the world.

In this regard, I would like to note the Central Asia-China transnational gas pipeline and the gas pipelines to Iran and Russia. In general, the gas pipeline network of our country now allows us to export more than 110 billion cubic metres of natural gas.

The Turkmenistan-Afghanistan-Pakistan-India (TAPI) transnational gas pipeline under construction, supported by the world powers and authoritative international financial institutions, also has huge prospects. Its design capacity is 33 billion cubic metres of natural gas per year.

Grandiose projects

Representatives of the United Nations, the International Renewable Energy Agency and the Energy Charter and the top managers of SOCAR, CNPC, Dragon Oil, Eni S.p.A., Schlumberger Logelco, Inc., Trans Caspian Resources, Inc, the Georgian Oil and Gas Corporation, among others made presentations at the plenary session and thematic sessions.

The speakers noted that Turkmenistan has implemented important joint projects in recent years, including a modern gas chemical plant that produces polyethylene and polypropylene in Kiyanly village in Balkan Region and the world’s first GTG plant in Ahal Region, built jointly with LG International Corp and Hyundai Engineering (Republic of Korea), Toyo Engineering Corporation (Japan), Kawasaki Heavy Industries Ltd. (Japan) and Rönesans Endüstri Tesisleri Inşaat Sanaýi ve Ticaret A.Ş. (Turkey).

Speaking at the conference, the Director of the Türkmengaz State Concern noted that Turkmenistan has great prospects for supplying natural gas to Europe, and the Director General of the Georgian Oil and Gas Corporation (GOGS) said Georgia is interested in natural gas supplies from Turkmenistan.

In this regard, the emphasis should be placed on the relevance of the implementation of another important project – the Trans-Caspian gas pipeline.

The top managers of the Türkmennebit State Concern and the Türkmenhimiýa State Concern made presentations on the prospects offered by Turkmenistan’s oil and chemical industries to foreign investors.

On the second day of the International Conference “Oil and Gas of Turkmenistan-2022”, the participants discussed such issues as hydrogen energy, gas and petrochemical production, the role of international financial institutions in promoting clean energy, project insurance, prospects for renewable energy sources in Turkmenistan, reduction of methane and CO2 emissions and technology solutions to reduce gas flaring.

A package of documents for large sum adopted

Speaking at the conference, the Turkmen participants stated that since 2009, natural gas supplies from Turkmenistan to China have exceeded 340 billion cubic metres. They noted that it would take 100 years to develop the giant Galkynysh field. They also considered developing renewable energy in our country, among other issues.

On the third day of the conference, three long-term partners of our country – Dragon Oil, CNPC and Petronas that have showed significant results in Turkmenistan’s oil and gas industry received the Energy Excellence Award.

In conclusion, I would like to note the effectiveness of OGT-2022. The conference and exhibition provided the interested parties with an opportunity to establish business contacts with Turkmen partners.

The main events of the OGT-2022 forum included the signing of an agreement between Türkmennebit and Dragon Oil on 3D seismic surveys on block 19 of the Turkmen shelf of the Caspian Sea that will provide new geological information on this block.

In total, 12 agreements and contracts worth $100 million were signed.

03 11 2022, 12:34
Photo source: CentralAsia.news

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