Elvira Kadyrova
The second and the last day of the Dubai International Forum to attract investments in Turkmenistan’s energy sector included two sessions titled ‘Investment opportunities in the Turkmen energy sector: Offshore’ and ‘Accelerating Turkmenistan’s drive to monetize and diversify new energy resources’.
Senior officials and representatives of Dragon oil, Yug-Neftegaz Private Limited, SC “Turkmengeology”, GaffneyCline, UNECE, SPT Energy Group, Topsoe, Daewoo E&C, Brussels Energy Club, UN Resident Coordinator’s office in Turkmenistan, Stamicarbon, Wondernet Express Investment Group presented their companies visions on mentioned subjects.
There are some key ideas and notable takeaways drawn from the vast layer of information:
- The renewable energy transition agenda cannot detract from the importance of investing in fossil fuel processing technologies. Ultimately, the range of products of deep processing is quite wide – from various types of fertilizers that contribute to food sustainability up to environmentally friendly fuels. As an example of the latter, TOPSOE’s licensed TIGAS process technologies for GTG plants can be mentioned, thanks to which Turkmenistan became a pioneer in production of eco-friendly gasoline today. Therefore, the processing of hydrocarbons is one of the keys to the greening of the fuel and energy sector.
- Advanced processing contributes to effective monetization of hydrocarbon resources.
- The world will use more energy in 2050 than it does today. Fossil fuels remain necessary through 2050. Most IOCs estimate oil and natural gas will account for 20%-55% of the world’s energy mix in 2050. Renewables mostly will displace coal and some oil. Natural gas demand rises, largely to help meet increasing needs for electricity. Technology will continue to play a vital role in shaping the future energy mix.
- Taking into account growing environment concerns, gas and oil sector leaders diligently strive to find a balanced solution assessing the potential impact on the business in terms of both risks and opportunities.
- Long-term partners in energy sector of Turkmenistan, being well aware of holistic environmental approach of Turkmenistan, incorporate in their operation strategies such targets as minimization of carbon footprint and reducing emissions.
- Turkmenistan undertakes significant efforts within framework its environment strategy, starting from national quarterly environmental inspections for compliance to environmental legislation scaling to global initiative to host Regional Center for Climate Technology in Central Asia. Center’s impact area is Mitigation Technologies, heavily focused on energy sector. It will foster the implementation of bankable green energy projects. ///nCa, 27 April 2023