Summary of the First Day of flagship Oil and Gas of Turkmenistan 2024 Conference started on 23 October 2024 in Ashgabat:
The first day of the Oil and Gas of Turkmenistan (OGT) 2024 conference unfolded with a series of high-level discussions, attracting prominent figures from the global energy sector. The event, held in Ashgabat, set the stage for exploring “The Latest Trends in Global Energy Markets and Prospects for Mutually Beneficial Cooperation,” alongside key topics such as investment opportunities in Turkmenistan’s oil and petrochemical sectors.
In addition to the discussions, the event featured an expo showcasing over 70 stands from leading global companies in the energy sector. The expo provided a platform for participants to explore cutting-edge technologies, innovative solutions, and strategic initiatives that are shaping the future of energy worldwide.
Plenary Session: The Latest Trends in Global Energy Markets and Prospects for Mutually Beneficial Cooperation
The plenary session, held from 16:00 to 17:30, addressed the critical developments in the global energy landscape. Chaired by Dmitry Shlapachenko, UN Resident Coordinator in Turkmenistan, the panel brought together senior officials and experts to assess Turkmenistan’s evolving role in international energy markets and prospects for regional collaboration.
Keynote speaker Batyr Amanov, Deputy Chairman of the Cabinet of Ministers of Turkmenistan, discussed Turkmenistan’s strategic role in ensuring global energy security. He emphasized the importance of enhancing energy infrastructure and cooperation to meet growing regional and global demand.
Other distinguished speakers included:
- Maksat Babayev, State Minister of Turkmenistan and Chairman of SC “Turkmengas,” further elaborated on Turkmenistan’s extensive natural gas reserves and its plans to enhance production capacity and expand export routes. Babayev highlighted the potential for international partnerships in the development of the country’s energy sector.
- Jurabek Mirzamakhmudov, Minister of Energy of Uzbekistan, presented Uzbekistan’s energy transition strategy, focusing on diversifying energy sources and reinforcing regional cooperation, especially in the gas and renewable sectors.
- Zhang Daowei, Vice President of CNPC, who shared insights on China’s growing energy needs and the potential for stronger energy ties with Turkmenistan.
- Abdulla Al Shamsi, Senior Vice President of International Gas & LNG Business at ADNOC. During his session, Mr. Abdulla Al Shamsi addressed the pivotal role of natural gas in the global energy transition and its importance for both domestic and international growth strategies. He emphasized the significance of responsible management of natural gas resources, highlighting how they could drive economic growth, create wealth, and benefit society as a whole. Mr. Al Shamsi also discussed ADNOC’s recent global gas projects, showcasing partnerships aimed at enhancing energy security and the development of sustainable gas solutions. He invited attendees to engage with ADNOC’s initiatives and explore avenues for collaboration in leveraging Turkmenistan’s abundant energy resources.
- Daniel Yergin, Vice Chairman of S&P Global Commodity Insights, delivered a video address that provided an overview of the latest trends in global energy markets, underscoring the ongoing shift towards cleaner energy sources and the need for resilience in the face of market volatility.
- Ariel Flores, Executive SVP, Upstream at BP. In his session, Mr. Ariel Flores discussed the transformative shifts in the global energy landscape and emphasized Turkmenistan’s strategic role. He highlighted the necessity of a diverse energy mix, the increasing demand for secure and lower-carbon sources, and the importance of natural gas as a bridge to renewables. Mr. Flores showcased bp’s commitment to sustainability through innovative strategies in the Caspian region, reinforcing the potential for collaboration in Turkmenistan’s energy sector.
Session 1: Commodities for the Energy Transition: Key Trends and Investment Opportunities
- Matthew J. Sagers, Vice President, Research and Analysis, News & Research MGMT, S&P Global Commodity Insights.
- Ali Rashid Al Jarwan, CEO of Dragon Oil. During Session 1: Commodities for the Energy Transition at the 29th “Oil & Gas of Turkmenistan – 2024” International Conference & EXPO, Ali Rashid Al Jarwan, CEO of Dragon Oil. discussed its commitment to sustainable development and energy transition in Turkmenistan. The presentation highlighted Dragon Oil’s investment of over $10 billion since 2000, with a cumulative production of 447 million barrels. Key points included their strategy to enhance oil recovery, gas re-injection, and the reduction of flaring. Dragon Oil emphasized the use of advanced technology for better reservoir management, process optimization, and the integration of renewable energy like solar power. They also focused on collaboration with international oil companies (IOCs) and the Turkmen government to create a resilient energy sector and support sustainable growth through social infrastructure and training initiatives.
- Chris Johnson, Vice President, Europe and North Sea, Baker Hughes.
- Askhat Khassenov, Chairman of the Management Board, NC KazMunayGas JSC.
- Mammetguly Astanagulov, Deputy Minister of Finance and Economy of Turkmenistan, took part in Session 1: Commodities for the Energy Transition at the 29th “Oil & Gas of Turkmenistan – 2024” International Conference & EXPO. During the session, he focused on the economic potential of energy commodities in the context of the global energy transition. He discussed key trends and investment opportunities within Turkmenistan’s energy sector, including the diversification of energy exports, strategies for increasing natural gas processing, and the importance of international partnerships in achieving sustainable growth. His insights reflected Turkmenistan’s commitment to enhancing energy efficiency and transitioning toward cleaner energy sources, all while maintaining a strong role in the global energy market.
- Assmawi B Salim, Chief Financial Officer of PETRONAS Carigali (Turkmenistan) Sdn Bhd, delivered a presentation in Session 1: Commodities for the Energy Transition at the 29th “Oil & Gas of Turkmenistan – 2024” International Conference & EXPO. He focused on the role of key commodities in the energy transition, highlighting new investment opportunities, carbon capture and storage initiatives, and innovations in sustainable solutions. His talk also covered strategies for reducing methane emissions and enhancing operational efficiency through advanced materials and flaring optimization.
- Giorgio Castriota Scanderbeg, Managing Director, Eni Turkmenistan.
- Lyubov Ivleva, Deputy Director for Strategic Development at INVI TECHNOLOGIES LLP, spoke during Session 1: Commodities for the Energy Transition: Key Trends and Investment Opportunities. She discussed the vital role of new technologies in the oil and gas industry, highlighting how INVI TECHNOLOGIES has applied its over 20 years of experience to provide innovative solutions, such as advanced monitoring systems and anti-corrosion products. Her presentation emphasized the importance of efficiency and sustainability in energy infrastructure projects, especially within Turkmenistan’s energy sector.
Discussions explored critical areas such as:
- Market trends in Turkmenistan’s oil and petrochemical sectors.
- Updates on investment opportunities in offshore blocks.
- Sustainable practices in the oil and petrochemical industries.
- Innovative approaches to methane utilization and its role as both a fuel and feedstock for chemical production.
- Emerging trends in financing new energy projects.
The first day of OGT 2024 successfully laid the groundwork for productive discussions on energy market trends, investment opportunities, and the future of energy cooperation in the region. With significant contributions from global leaders, Turkmenistan’s strategic importance in the global energy sector was reaffirmed, and promising opportunities for future collaboration were identified.
The accompanying expo also provided participants with valuable insights into the latest technologies and solutions from more than 70 global companies, reinforcing the event’s significance as a platform for fostering partnerships and innovation in the energy industry.
Earlier in the day, from 15:30 to 16:00, the first session of the conference zeroed in on investment
opportunities in Turkmenistan’s oil and petrochemical sectors. As Turkmenistan holds over 71 billion tons of hydrocarbon reserves, the discussion centered around how these resources can attract foreign investments, especially in offshore blocks, and the country’s efforts to diversify its energy portfolio.
Guvanch Agajanov, Chairman of SC “Turkmennebit,” delivered the keynote address, outlining the latest investment teasers and the strategic vision for Turkmenistan’s energy infrastructure. Agajanov also highlighted opportunities in the offshore blocks 11, 12, 16, 21, and 23, which were presented earlier at the TEIF 2024 Investment Forum in Paris.
We are pleased to announce the official opening of the OGT 2024 Expo in Ashgabat
On 23 Oct 2024, the grand opening of the Oil & Gas of Turkmenistan (OGT) 2024 Expo took place, a highly anticipated event that runs alongside the prestigious OGT 2024 conference. Held in Ashgabat, this year’s expo has attracted a diverse array of participants, including leading energy companies, government representatives, industry experts, and innovators from around the world. The event is set to showcase the latest advancements in energy technologies, with a particular focus on sustainable solutions that support the global energy transition.
The expo serves as a platform for companies to present cutting-edge technologies, products, and services related to oil, gas, and energy. It also provides a unique opportunity for networking, with attendees engaging in discussions on strategic partnerships and collaboration in the energy sector. A key highlight of this year’s expo is the emphasis on digitalization and green energy solutions, underscoring Turkmenistan’s commitment to advancing sustainable energy initiatives.
With the participation of major industry players, including PETRONAS, Dragon Oil, and CNPC, the OGT 2024 Expo is not only a showcase of technological progress but also a reflection of Turkmenistan’s pivotal role in the regional and global energy landscape. Exhibitors from across the globe are presenting innovative projects and sharing insights on the future of energy development, ensuring that the event remains a hub of knowledge exchange and forward-thinking dialogue.
The OGT 2024 Expo is expected to draw a wide range of visitors, from high-level government officials to technical specialists, creating a dynamic environment for collaboration and business development. As the energy sector faces rapid change, the expo stands as a critical event for those shaping the future of the industry. ///Turkmen Energy Forum News Digest