On 25 October 2023, the flagship event of the oil and gas industry of Turkmenistan – the exhibition and international conference “Oil and Gas of Turkmenistan 2023” (OGT2023) started in Ashgabat. The 28th forum hosts a grandiose number of participants – more than 700 delegates from 46 countries of the world. This fact testifies to the growing investment attractiveness of Turkmenistan, which is also due to the political and economic conditions created in the country.
The keynote address at the plenary session was delivered by the Minister of State of Turkmenistan, Chairman of the State Concern “Turkmengaz” Maksat Babayev.
In his speech, he noted that Turkmenistan’s hydrocarbon resources are estimated at over 71 billion tons of oil equivalent, including 20 billion of oil and more than 50 trillion cubic meters of natural gas. Turkmenistan ranks fourth in terms of proven natural gas reserves – after Russia, Qatar and Iran.
This fact imposes a responsibility on the country as a supplier of reliable clean energy.
Babayev stressed that natural gas will be the main element of the transition to a low-carbon future. Since this energy carrier, compared with coal and oil, has lower emissions, especially in the production of electricity.
“Natural gas is an economically efficient option to solve the problems of supply disruptions, being a suitable alternative from the point of view of ecology and technological chain,” the head of Turkmengaz continued.
Turkmenistan is a reliable resource base for natural gas supplies. The reserves of the world’s largest onshore gas field Galkynysh, together with the reserves of the Yashlar and Garakel deposits, are estimated at 27.4 trillion cubic meters. A phased development strategy has been realized at the field.
The first stage of pilot industrial operation of the field is currently underway. Turkmenistan is in process of active negotiations with international investors on the second and third stages. And as Babayev said, Turkmenistan expects a breakthrough on this issue in 2024.
Speaking about the main routes for the export of Turkmen energy sources to international markets, Babayev mentioned the Turkmenistan-China gas pipeline, which was put into operation at the end of 2009.
According to the previously reached agreements, gas supplies to China should reach 65 billion cubic meters per year after the commissioning of the line Four (Line D) of the gas pipeline. The route of the forth line will run from the border of Turkmenistan via Uzbekistan, Tajikistan and Kyrgyzstan to China. To ensure the planned volume of supplies to China in the amount of 25 billion cubic meters it is planned to put into operation the second stage of the development of the Galkynysh field, Babayev said. The approval of the contract for the development of the second phase is in the final stage, according to him.
Turkmenistan also exports gas to Uzbekistan in the amount of 2 billion cubic meters.
Azerbaijan receives 3 billion cubic meters of Turkmen gas exported through swap shipments via Iran.
In addition, in early October, the State Concern “Turkmengaz” and the Ministry of electricity of Iraq signed a memorandum on the supply of natural gas. According to the document, up to 9 billion cubic meters of Turkmen gas will be supplied to Iraq on swap through Iran.
Maksat Babayev, Chairman of the Turkmengaz State Concern, concluding his presentation, invited interested international investors to participate in the third stage of development of the Galkynysh field, which will become a source of gas supplies for the future Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline with a capacity of 33 billion cubic meters of commercial gas per year.
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Speakers of the plenary session moderated by Ambassador John McGregor, Head of the Center OSCE in Ashgabat:
- Musabbeh Al Kaabi – Executive Director, Low Carbon Solutions & International Growth, ADNOC
- Hou Qijun – President, CNPC (online)
- Rovshan Najaf – President, SOCAR
- Kadri Simson – European Commissioner for Energy (video message)
- Medhat M. Kamal – 2023 SPE President
- Elena Akoltseva – Vice President Caspian, Baker Hughes
- Colin Allan – Vice President Finance for Azerbaijan, Georgia and Turkiye, bp
- Dario Liguti – Director, Sustainable Energy Division, UNECE
During the three days of the 28th Oil and Gas of Turkmenistan 2023 Conference, five sessions cover topics such as Delivering the Energy Needs of Today while Investing in the Energy Systems of Tomorrow: Natural Gas and Chemical Gas Utilization, Oil and petrochemicals, Environmental Aspects of Hydrocarbon production, Monetization of hydrocarbon resources, Technological innovations and the role of human capital in successful energy transition. ///nCa, 25 October 2023
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