The International Forum to Attract Foreign Investments in Turkmenistan’s Energy Sector will be held in Paris on 24-25 April 2024. The Forum’s principal organizers are the State Concerns “Turkmennebit” and “Turkmengas”, and the State Corporation “Turkmengeology” in partnership with Turkmen Forum and UK-based GaffneyCline.
The purpose of this event is to expand the opportunities for attracting foreign direct investment in all aspects of the Energy industry of Turkmenistan and to strengthen regional dialogue on further sustainable development of the energy sector. Upstream, midstream and downstream opportunities will also be addressed.
The Forum will bring together leading national and international energy companies, as well as experts who shape the future of the oil and gas industry not only in Turkmenistan but also in the wider region.
The Forum is one of the series of events, which will be held by the national energy companies of Turkmenistan this year, and marks new approaches to investment attraction.
The forum agenda is focused on such issues as the Future of Global Energy, New Investment Opportunities in the Turkmen Energy Sector, Reduction of Methane and CO2 Emissions in Hydrocarbon Production and Monetization, the Role of Financial Institutions in Attracting New Investments, and Accelerating the Drive to Attract Investment in New Energy and Infrastructure Projects.
As the world embarks on a massive energy transition so, too, is Turkmenistan changing. The country has so much to offer from hosting the world’s largest onshore gas field – Galkynysh field – to world-class natural conditions for the development of solar and wind power. The opportunities that Turkmenistan’s energy sector offer will be the prime focus of the forthcoming International forum in Paris.
Turkmenistan is actively developing its renewable energy sector. An example of this is the project the construction of a 10-megawatt hybrid solar-wind power plant near Altyn Asyr Lake in 2023, financed by the Abu Dhabi Development Fund.
Turkmenistan also continues to be a major player in the Asian oil & gas market. The country’s hydrocarbon resources are estimated at over 71 billion tons of oil equivalent, that is over 20 billion tons of oil and over 50 trillion cubic meters of natural gas.
Currently, Turkmenistan’s largest customer is the People’s Republic of China. Turkmenistan currently supplies China with over 30 BCMA through the three lines (A, B, and C) of the Central Asia Gas Pipeline system and, upon completion of the fourth D line, the annual Turkmen natural gas supply will reach a contractual 65 billion BCMA. Turkmenistan also supplies gas to Azerbaijan, Iran, and Russia.
Despite turmoil in global energy markets, Turkmenistan and its partners in the Turkmenistan-Afghanistan-Pakistan-India (TAPI) Gas Pipeline Project continue to support the implementation of this mega-project. The 1,853-km pipeline will deliver up to 33 BCMA natural gas from Galkynysh to three off-take points in Afghanistan, three offtake points in Pakistan, and a final off-take point at the Pakistan-India border to supply the Indian market.
Turkmenistan is actively developing its offshore fields in the Caspian Sea and onshore in the Balkan region. Currently, a number of leading IOCs are producing oil and gas from contractual areas in the Caspian Sea, among them: ENI, Dragon Oil, and Petronas. The focus of this year’s conference will be the attraction of investment to offshore Blocks No. 21 and 23, West Cheleken, optimization of production from mature fields, and next-phase developments of the supergiant Galkynysh field, which holds the world’s second-largest gas reserves.
In parallel with the export of natural gas by pipeline, Turkmenistan is currently focusing on the deep processing of hydrocarbons, which in the long term may become dominant in the country’s economy.
Other strategic projects implemented in phases by the oil and gas complex of Turkmenistan include the project for the reconstruction of the Turkmenbashi Complex of Oil Refineries and the Seydi Complex of Oil Refineries. This year, additional facilities for the deep processing of oil and a hydrogen production unit will be built at both refineries.
The organizers of the “International Forum to Attract Foreign Investments in Turkmenistan’s Energy Sector” are confident that participation and business meetings on the sidelines of the Forum will increase awareness and provide first-hand information to potential investors about new investment projects in the Turkmen energy sector.
Registration for the International Forum to Attract Foreign Investments in Turkmenistan’s Energy Sector, 24-25 April, 2024 is available at: https://ogt-turkmenistan.com/en
///nCa, 8 January 2024