INTERNATIONAL FORUM FOR ATTRACTING FOREIGN INVESTMENTS TO THE OIL AND GAS SECTOR OF TURKMENISTAN

On the 12th of May, 2021 in the conference hall of the Chamber of Commerce and Industry of Turkmenistan International Forum for Attracting Foreign Investments to the Oil and Gas Sector of Turkmenistan started its work in a hybrid format.

The organizers of this largest event in the hydrocarbon market segment are the Ministry of Finance and Economy of Turkmenistan, State Concerns “Turkmengas” and “Turkmennebit”, as well as “Turkmengeology” State Corporation. The sponsors of the Forum are “Turkmen Forum”, GaffneyCline, TAPI, TNGZIT and others.

The purpose of the Forum is to expand the opportunities for attracting foreign direct investments to the oil and gas industry of Turkmenistan and strengthen the regional dialogue on the further sustainable development of the energy sector.

The International Forum is attended by the heads of leading national and international companies as SOCAR, CNPC, NaPeCo, Buried Hill, Dragon Oil, Petronas. ARETI, LG International and others, the heads of such financial institutions as World Bank, Asian Development Bank, Islamic Bank for Development and others, as well as experts who shape the future of the branch in  the regional scale.

At the beginning of the event Deputy Chairman of the Cabinet of Ministers of Turkmenistan Shahym Abdrakhmanov read out the Welcome Address of the President of Turkmenistan Gurbanguly Berdimuhamedov to the participants.

Within the Forum, Minister of Finance and Economy of Turkmenistan M.Serdarov, the heads of the State Concerns “Turkmengas” and “Turkmennebit”, President of SOCAR company R.Abdullaev, UN Resident Coordinator a.i. for Turkmenistan, UNICEF Representative in Turkmenistan Christine Weigand, Ambassador Extraordinary and Plenipotentiary of the People’s Republic of China to Turkmenistan Qian Naicheng, Vice Chairman of the Executive Committee – Executive Secretary of CIS I.Nematov, Executive Secretary of the UN Economic and Social Commission for Asia and the Pacific A.Alisjahbana, International Energy Forum (IEF) Secretary General J.Mcmonigle, as well as Presidents, Vice-presidents of the leading international companies, Ambassadors of some countries and other participants of the Forum made their presentations.

The Forum started with the plenary session titled “Global Trends in Energy Markets and Prospects for Mutually Beneficial Cooperation”. Then the event continued in four sessions, such as “Role of Financial Institutions in Supporting the Global Energy Agenda”, “Pipeline Projects as a Driving Force for the Transition to a Low Carbon Future”, “Offshore Fields of the Caspian Sea: Development Experience and New Investment Opportunities” and “Investment Projects in Monetization of Hydrocarbons – A Glance to the Future”.

The Forum will continue its work on the 13th of May. On that day it is envisaged the discussion of the issues of exchange of experience in processing and purification of natural gas with high sulphur content, treatment of bottomwhole zones of wells drilled in carbonate gas reservoirs and others.