20 July، 2024

News from Emirates

300 Delegates of International Government & Private Bodies Dubai Hosting OGT Forum for Investment in Turkmenistan Energy

 

 Dubai, April 23, 2023: The Emirate of Dubai will host tomorrow for two days the activities of the International Forum for Investment in the Turkmen Energy Sector, and the Future of Energy Locally and Globally, with the participation of 300 delegates representing 200 international and private governmental bodies, including 10 Turkmen government bodies and ministries, and 10 agencies and organizations. Diplomacy, international banks, 94 international companies, 14 specialized Turkmen companies, two international research centers, and 18 international and regional media institutions.

The UAE is represented by His Excellency Ahmed Ali Al-Sayegh as Minister of State, and he handles economic and trade affairs in the Ministry of Foreign Affairs and Cooperation, by supervising the economic sector in the ministry, and contributing to providing support for government initiatives and plans in order to enhance economic diversification and chart a future based on sustainability in the country. On the other hand, the Turkmen side will be represented by Deputy Prime Minister Ashyrguly Begliyev.

The two-day forum at the Hyatt Regency Creek Heights Hotel will discuss the role of Turkmenistan in the future of global energy, the available global and regional investment opportunities, the environmental aspects of hydrocarbon developments, the energy of the new era, the prospects for local and regional development, and the acceleration and diversification of new energy investment.

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, comprising more than 20 billion tons of oil and more than 50 trillion cubic meters of natural gas. Given these figures, as of today, Turkmenistan operates the world’s largest onshore gas field, Galkynysh, and holds the world’s fourth-largest proven natural gas reserves, after Russia, Iran, and Qatar. Turkmenistan’s largest customer is the People’s Republic of China, which it currently supplies 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 is set to reach a contractual 65 billion BCMA. Turkmenistan also supplies gas to Azerbaijan, Iran, and Russia.

Leading energy companies in Turkmenistan are actively seeking foreign direct investment in abundant energy resources, while the Turkmen government is working to develop its own renewable energy sector, exemplified by the construction of a 10-megawatt solar-wind hybrid plant at Altyn Asyr Lake, which is set to begin Actual construction on it this year, and the project will be funded by the Abu Dhabi Fund for Development (ADFD).

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-kilometre pipeline will transport up to 33 BCMA of natural gas from Galkynysh to three intake points in Afghanistan, three points Buying in Pakistan, the last stepping stone on the Pakistan-India border to supply the Indian market.

Turkmenistan is currently actively developing its offshore fields in the Caspian Sea and on the coast in the Balkans. A number of leading international oil companies produce oil and gas from contracting areas in the Caspian Sea, among them: ENI, China’s Dragon Oil and Petronas.

Turkmenistan has a lot to offer in this field, from hosting the world’s largest onshore gas field to world-class natural conditions for developing solar and wind energy.

Turkmenistan plays a major role in the Asian oil and gas market, as the country’s hydrocarbon resources are estimated at more than 71 billion tons of oil equivalent, including more than 20 billion tons of oil and more than 50 trillion cubic meters of natural gas, while it operates the largest onshore gas field. In the world, Galkynysh has the fourth largest proven reserves of natural gas in the world, after Russia, Iran and Qatar.

3 notes between Abu Dhabi and Turkmenistan

In February 2021, the Abu Dhabi Fund for Development signed three memorandums of understanding with the government of Turkmenistan. The first memorandum of understanding included the establishment of an investment company, while the second memorandum of understanding stipulated a study of the possibility of investing in a complex project for chemical industries in Turkmenistan, while the third memorandum of understanding included a study The possibility of contributing to the financing of a number of development projects to enhance cooperation between the Fund and the Government of Turkmenistan, especially in the areas of infrastructure projects in various sectors, including renewable energy and air transport.

The value of the funds provided by the Abu Dhabi Fund for Development to Turkmenistan amounted to about 182 million UAE dirhams, allocated to support projects in the health sector through the establishment of a kidney disease center in Ashgabat and the rehabilitation of Archman Hospital, where the projects funded by the Fund work to support the efforts of Turkmenistan to implement the plan The economic and social reform developed by it to upgrade the health sector and improve health services for the population.