A cluster of events under the umbrella of the First Caspian Economic Forum is taking place at different locations at the Awaza national tourist zone of Turkmenistan and the Turkmenbashy Port.
It is a mega event bringing together huge delegation led by the heads of the government from the Caspian littoral states.
The delegations started arriving on 7 August 2019 and the momentum reached its peak on 10-11 August 2019.
The International Caspian Exhibition of Innovative Technologies and the exposition Turkmen Sahra started on 11 August 2019.
The same day separate meetings of the ministers of economy, and ministers of transport of Caspian states took place.
The entrepreneurs from the Caspian states had their own meeting.
The state commodities and raw materials exchange of Turkmenistan held a special session of auctions and deals.
The working visit of the prime minister of Bulgarian took place. A Turkmen-Bulgarian roundtable on business sector was also held. The joint Turkmen-Bulgarian commission for economic cooperation held its session.
A roundtable of the heads and representatives of the state agencies and private companies of the Caspian states in the sphere of transport and logistics took place on 10 August 2019.
The conference ‘Prospects of membership into World Trade Organization: the regional experience’ was held on 11 August 2019.
The conference ‘Financing the assistance actions aimed at the implementation of the Sustainable Development Agenda 2030’ was held on 11 August 2019.
The meeting of the Turkmen-Astrakhan Council on entrepreneurial issues was also held on 11 August 2019.
The president had separate meetings with a number of dignitaries visiting Turkmenistan for the First Caspian Economic Forum.
Working visit of Prime Minister of Bulgaria
Prime Minister Boyko Borisov of Bulgaria was received by President Berdymuhamedov on 11 August 2019. They met in tete-a-tete and expanded format.
During the conversation the sides acknowledged the potential for partnership in the bilateral and multilateral arrangements, particularly the Caspian Sea-Black Sea initiatives.
The consensus was that Turkmenistan and Bulgaria, because of their geographical locations, can serve as the connecting lands between the eastern and western parts of the Eurasian land mass.
Speaking to the media after the meeting, the Bulgarian prime minister said, “We are looking for a way to deliver natural gas from Turkmenistan to Bulgaria,”
The meeting of the joint Turkmen-Bulgarian commission for economic cooperation covered a wide range of subjects including the cooperation in transport and energy sectors, information and communication technologies, pharmaceuticals and the medical industry, agriculture, investments, etc.
The meeting moved on the traction gained during the visit of Prime Minister Boyko Borisov to Turkmenistan in 2015.
The Bulgarian side expressed the desire to expand its presence in the Turkmen market.
Science and technology were also recognized as promising areas.
The need was felt to expand the legal framework for cooperation, mutual protection of investments, exchange of information on technical partnerships and taxes, international freight and passenger transportation, information technology and communications.
The sides discussed the prospects for joint implementation of projects in the energy infrastructure facilities, maritime transport, the introduction of advanced methods and technologies in the agricultural sector. The issues of expanding supplies to the foreign market of textile and carpet products of Turkmen manufacturers were also considered.
Tourism cooperation between the tourist zones of Turkmenistan and Bulgarian was discussed.
In addition to the meeting of the joint commission for economic cooperation, a roundtable of business communities of both the countries was held. The Minister of Economy of Bulgaria Emil Karanikolov, Executive Director of the Agency for Support of Small and Medium Enterprises Boyko Takov and the representative of the Investment Agency Jordan Pamukov emphasized that cooperation in the bilateral format and within the framework of the Turkmen-Bulgarian relations was important European Union.
Noting the prospects of the Turkmen market, the guests expressed their readiness to develop partnerships in the trade, economic, energy and transport-communication spheres.
Meeting of transport ministers
The ministers of transport and senior officials from the transport sector of the Caspian states had a meeting to discuss the partnership possibilities in the light of the Caspian Convention and ongoing transport and transit initiatives in the region.
They exchanged notes on the current state and future plans of transport infrastructure development in their respective countries.
There was unanimity of opinion that the transport and transit are backbone of sustainable development.
The adoption of adoption of joint measures to develop the necessary port infrastructure and expanded partnership was discussed facilitate the movement of cargo in the Eurasian land mass and the connecting regions.
The potential of Turkmenistan to handle and store the perishable cargo, and the ability to transport bulky and heavy cargoes was highlighted.
The universality of the concept of multimodal transportation model and the growing capacity of the Caspian states to deal with multimodal cargoes was lauded.
The parties noted the need for all coastal countries to complete domestic procedures for the entry into force of the Agreement on Cooperation of the Caspian littoral states in the field of transport.
A document was signed for enhancing the traditional ties between the countries of the region.
Meeting of ministers of economy
The ministers of economy and senior officials from the economic sector of the Caspian states had a meeting.
The areas under spotlight were the correlation between the Caspian economies and the global economic system, the development of digital economy, and the promotion of special economic zones.
The process and shape of the economic integration keeping in view the interests of all the states was discussed. The approach of ‘stability through joint development’ was underlined.
The sides acknowledged the need to remain abreast of the emerging and new technologies in the trade and economy sector.
During the meeting, the expediency of exchanging legislative acts, standards, rules and statistical information on trade and economic issues was also emphasized. In this regard, a proposal was made to strengthen the contractual framework.
One of the items on the agenda was the simplification of the visa regime, which in the future will have a positive impact on the economic growth of the region.
At the end of the meeting the heads of delegations signed an intergovernmental agreement among the Caspian states for cooperation in the trade and economic sector.
Twin events: Caspian exhibition of innovative technologies, and international exhibition Türkmen sährasy-2019
The twin events ‘Caspian exhibition of innovative technologies,’ and ‘international exhibition Türkmen sährasy-2019’ started at the Turkmenbashy Port on 11 August 2019.
Covering an area of 13700 square meters, the exhibitions have attracted 57 foreign and 62 local companies, organizations and entities.
The exhibition of innovative technologies aims to kick start the creation of conditions for demonstrating achievements in the IT field, sharing experience, establishing effective cooperation between the states of the region and the international community.
Not just the innovative technologies but the realignment of collective mindset to make the best use of such technologies is also the desired objectives of the exhibition.
Turkmenistan is showcasing the growing role of innovative technologies in its key sectors. It is highlighted that the GDP growth over the past seven months amounted to 6.3 percent. Investments in the economy of Turkmenistan amounted to 30 percent of the gross domestic product, of which the share of foreign investment was 12 percent. In 2018, investments amounted to 11.5 billion US dollars, of which 65 percent were invested in the manufacturing sector, which resulted in the construction of large industrial projects presented at the stands of the innovative exhibition.
Among the foreign exhibitors are long-standing partners of our country, market leaders in various types of goods, equipment, services and technologies – Thales, Hyundai, CNPC, Petronas, LG, Schlumberger, Dragon Oil , Bouygues, John Deere, Itochu, Zeppelin, Vinci, Sumitomo, Huawei, General Electric, etc.
Foreign exhibitors occupy about five thousand square meters at the innovation exhibition. The countries of the Caspian region – Kazakhstan, Iran, Azerbaijan and the Russian Federation, including the Republic of Tatarstan and the Astrakhan Region, whose delegations arrived at the 1st Caspian Economic Forum, have deployed their pavilions and stands.
Turkmen TV channels organized their studios here, which directly from the place of the event prepare stories, broadcast programs and live broadcasts. A well-equipped press center operates for journalists, where you can also watch live broadcasts from events and presentations of the exhibition, find the necessary background information.
The international exhibition Türkmen sährasy-2019 is an open air and covered display of various makes and models of automobiles.
Among the participants are the Russian Lada, Aurus, Kamaz, GAZ, the Azerbaijani Hazar of Azermash plant, the Iranian Hodro cars, the Uzbek UzAuto Motors, the Belarusian MAZ, the German Mercedes, Volkswagen, BMW and Audi, the Japanese Toyota, Laxus, Mitsubishi, Mazda, the Korean Hyundai, the Chinese Yutong, etc.
Also at the exhibition are the luxury automobiles such as Bengley and Lamborghini.
The Chrysler 1966 motorcycles and modern models of bicycles are also at display.
The state commodity and raw materials exchange of Turkmenistan held an auction session where the bidders from the USA, Great Britain, the United Arab Emirates, Germany, Estonia, Switzerland, Russia, Turkey, China, Singapore, Luxembourg, Malta, Afghanistan, Uzbekistan and other countries took part.
Cooperation with WTO and World Bank
The minister of finance and economy of Turkmenistan, Batyr Bazarov, had separate meetings on 10 August 2019 with World Bank executive director Werner Gruber, and Director of the Department for the Accession of New Countries of the Secretariat of the World Trade Organization, Ms. Mayka Oshikawa.
The signing of the memorandum of cooperation between Turkmenistan and International Finance Corporation, a part of the World Bank, in the field of expanding export opportunities of the country was discussed in the meeting with the World Bank executive.
The meeting with the WTO executive covered the measures Turkmenistan is taking, including the improvement of legislation and simplification of trade procedures, to prepare for accession to the WTO.
Cooperation with Russia and the Russian regions
On the 11 August 2019, a meeting of the Deputy Prime Minister of the Russian Federation – Chief of the Government Staff Konstantin Chuychenko with the Head of the external policy agency of Turkmenistan R.Meredov was held on the sidelines of the Caspian Exhibition of Innovative Technologies.
The parties lauded the current state and future prospects of mutual partnership.
On 10 August 2019, DPM Meredov (foreign affairs) received the acting governor of Kalkykia region of Russia, B S Khasikov. The prospects for direct cooperation between Turkmenistan and the Kalmyk region of Russia were discussed.
The same day Meredov received the acting governor of Astrakhan region of Russia, I Yu Babushkin. The sides expressed satisfaction at the thriving cooperation between Turkmenistan and the Astrakhan region and discussed the prospects for further expansion of the partnership.
The first meeting of the Turkmen-Astrakhan Business Council on Entrepreneurship was held on 11 August 2019. The agenda covered a number of points including the cooperation in trade-economy, fuel and energy, transport and communications, agriculture, digitalization of economy and introduction of innovations. The companies from Astrakhan were keen to build their presence in Turkmenistan.
57 international documents signed at CEF-2019
[This part of report taken from TDH, 11 August]
In the afternoon, a meeting of representatives of business circles of the Caspian countries was held in the conference room of the Berkarar Hotel. Its agenda included topical issues of establishing international cooperation, attracting foreign investment and technology in various industries of the states of the region, and discussing promising joint projects.
So, one of the sessions was devoted to cooperation in the oil and gas industry, its areas and prospects. The meeting was attended by heads of the Turkmengaz State Concern, the Malaysian company Petronas, the Chinese CNPCI, etc. An overview of the activities of large foreign partners in Turkmenistan was presented, and new investment projects in gas chemistry were announced.
The topic of another session was investment. High-level delegates from the World Bank and the Asian Development Bank, one of Qatar’s leading companies, Al Qamra Holding, spoke here.
The title of the third session is “Industrialization: A Look into the Future”. It was held by the EBRD’s regional head for Central Asia, who emphasized the role of business in this area. In this section, major industrial projects initiated by the leader of the nation, Gurbanguly Berdimuhamedov, which are implemented by the Union of Industrialists and Entrepreneurs of Turkmenistan, the Azerbaijani experience in legislative support of business and the successful model of a free industrial zone, were examined on the example of free economic zone in the Georgian port city of Poti.
At the end of the business forum, which was attended by about 300 leaders and representatives of 90 large companies, banks, associations and associations, the results of the innovative exchange trading technologies held at the Caspian Exhibition were announced.
A total of 72 transactions were registered for a total amount of 335 million 476 thousand US dollars. For foreign currency, entrepreneurs from Russia, Turkey, the United Kingdom, Luxembourg, the United Arab Emirates, the USA, Singapore, Hong Kong and Afghanistan purchased hydrotreated diesel fuel, A-80 brand gasoline, L-0.2-62 and L-0 diesel fuel, 5-62, TS-1 brand kerosene, total petroleum coke, ECO-5 hydrotreated diesel fuel produced by TKNPZ, as well as ECO-93 brand gasoline, liquefied gas produced by enterprises of the Turkmengaz State Concern. The subjects of foreign exchange transactions were urea grade B and technical iodine produced by the State Concern Turkmenchemiya.
In addition, cotton yarn, cotton fiber, Portland cement and glass were sold for foreign currency. Buying countries: Russian Federation, Turkey, United Arab Emirates, Uzbekistan.
Domestic entrepreneurs purchased polypropylene and polyethylene totaling 43 million manat to the domestic market.
During the closing speech at the business meeting, it was noted that Turkmenistan once again demonstrated its readiness for real cooperation in specific and strategic areas with both the Caspian states and countries of other regions.
Then, the ceremony of signing documents took place, securing the agreements reached during the meetings and meetings held on the fields of CEF-2019. In general, 57 international documents were adopted at various levels, which relate to cooperation in such areas as information technology, investment cooperation, trade, economic and financial sphere, diplomacy, transport, electricity, light industry, agriculture and water management, sports, etc. .
Next was the delivery of certificates. One of them was awarded the Chamber of Commerce and Industry of Turkmenistan for hosting the Caspian Exhibition of Innovative Technologies and the first international auto exhibition of Turkmenistan in the territory of the Turkmenbashi International Seaport. This certificate was presented by Sergey Gorsky, Deputy Executive Director of Messe Frankfurt – a global leader in exhibitions of the automotive industry.
“Presenting this certificate, we welcome the initiative of President Gurbanguly Berdimuhamedov to hold an exhibition of advanced technologies and the first automobile exhibition, which takes place in Turkmenbashi and complements this forum, contributing to the promotion of new technologies in industry, including in the automotive industry,” said Mr. Gorsky.
The certificate was also presented by the head of the President of the Union of Chambers of Commerce and Commodity Exchanges of Turkey Rifat Hisarchiklioglu and the Secretary General of the Chamber of Commerce of the Organization for Economic Cooperation Adem Kula.
The certificate of compliance with ISO standards was awarded to the State Commodity and Raw Materials Exchange of Turkmenistan, the main project manager of SGS in the Caspian region, Azer Mammadov.
As noted, this certificate is given after verification by SGS auditors based on the results of a lot of work that was done by the exchange and is a high assessment of the final result.
At the end of the ceremony, a briefing was given for media representatives following a meeting of business circles. It summarizes the main topics of discussion, conclusions about the available opportunities for enhancing cooperation, as well as a balanced and comprehensive assessment of the multifaceted investment potential of Turkmenistan.
At the briefing, the results of the first day of the Caspian Economic Forum were also summed up. Within its framework, the importance of the initiative of President Gurbanguly Berdimuhamedov to establish the CEF, which marked the launch of a new platform for dialogue between the countries of the region and their international partners, on which you can get complete and objective information on the dynamics and long-term plans for the socio-economic development of the Caspian Five, was again emphasized. exchange views on the latest global trends in various sectors of the economy, receive direct comments on issues of interest from representatives of the government agencies, relevant ministries and departments, successful businessmen, leading international experts.
Key SDG finance trends discussed with international experts
[This part of the report taken from TDH, 11 August 2019]
The conference “Financing in order to facilitate the implementation of the 2030 Agenda in the framework of sustainable development” was held at the Khazar Hotel NTZ Avaza.
This forum is organized by the Permanent Mission of the United Nations (UN) in our country, together with the Ministry of Foreign Affairs and the Ministry of Finance and Economics of Turkmenistan. Among the foreign guests, it was attended by the UN Deputy Secretary General, Executive Secretary of the UN Economic Commission for Europe Olga Algaerova, UN Resident Coordinator in Turkmenistan Elena Panova, as well as specialists from many international organizations and financial institutions. These are the Economic and Social Commission for Asia and the Pacific, the World Bank, the European Bank for Reconstruction and Development, the Asian Development Bank.
The conference was attended by representatives of ministries and departments of Turkmenistan related to the financing of the SDGs, as well as more than 150 delegates of foreign companies and business communities.
They were acquainted with the Voluntary National Survey of Turkmenistan, which was presented to the world community on July 18, 2019 at the high-level Political Forum under the auspices of the UN ECOSOC in New York. As noted, according to the Decree of President Gurbanguly Berdimuhamedov of November 17, 2017, the institutional structure of the SDG monitoring system in Turkmenistan was approved, including the creation of the SDG Working Group, which includes representatives of more than 50 national ministries and departments, governors of the regions and the city of Ashgabat, public organizations, research institutes and higher educational institutions.
During the exchange of views, it was reported what kind of support the World Bank is offering to the countries of Central Asia for promoting the Development Financing Program. The UNDP representative formulated key trends in financing the SDGs in the Central Asian region, and made specific recommendations for the Caspian states in this direction.
The EBRD delegate shared his vision of what the private sector and private capital can do to promote sustainable development, and which, first of all, needs support from entrepreneurs from investors and governments. And the ADB representative spoke about the most promising financial instruments to address the deficit in financing the SDGs.
It was noted that thanks to the far-sighted policy of the head of state Gurbanguly Berdimuhamedov, Turkmenistan’s implementation of the 2030 Agenda was ensured through the development of comprehensive financing mechanisms and their implementation at all levels.
Thus, in accordance with the Program of the President of Turkmenistan for Social and Economic Development for 2019-2025, the share of budget expenditures in the social sphere, including education, health care, social security is more than 70 percent. In addition, budget funds are used to create high-quality, affordable, affordable, reliable and sustainable infrastructure, including transport, energy, water and sanitation for all. These measures are provided for in the framework of programs to transform the social conditions of the population of villages, towns, cities of etraps and etrap centers, for the implementation of which about 10 billion manat is planned to be allocated in the period 2019-2025.
It was also noted that at the same time, to achieve the ambitious and complex objectives of the Sustainable Development Goals, it is necessary to attract international finance, as well as private sector resources. In this regard, the development of instruments and mechanisms of mixed financing through public-private partnerships is becoming increasingly relevant. To create favorable conditions for its development, the Government of Turkmenistan has taken a number of measures to improve the legislative framework and has developed programs to support the private sector. These steps allowed expanding the scope and share of private sector participation in economic sectors, as well as creating conditions for deepening the measures taken to develop public-private partnerships.
Executive Secretary UNECE received by president and foreign minister
[This part of the report taken from MFA Turkmenistan, 11 August 2019]
On the 10th of August 2019, a meeting was held in the city of Turkmenbashy between the President of Turkmenistan Gurbanguly Berdimuhamedov and the Under Secretary-General of the United Nations, Executive Secretary of the UN Economic Commission for Europe (UNECE) Ms.Olga Algayerova who has arrived to Turkmenistan to take part in the First Caspian Economic Forum.
During the meeting, Executive Secretary of the UNECE Ms.Olga Algayerova has specifically noted the active and constructive mutual cooperation between Turkmenistan and the UN on key issues of the global agenda. According to the guest, the current Caspian Economic Forum is expected to be the platform for the discussion of concrete matters related to the security, stability and multilateral development in the Caspian and other regions.
In the second half of the same day, Executive Secretary of the UNECE Ms.Olga Algayerova was also received by the Minister of Foreign Affairs of Turkmenistan R.Meredov. During the meeting, the parties noted with satisfaction the reforms realized in Turkmenistan in the area of energy, transport and nature protection. Also, the Executive Secretary of the UNECE stated that Turkmenistan, as a full member of the Inland Transport Committee of the UNECE for the period of 2019-2020, actively develops the sphere of transport and logistics not only on the national level, but also on the regional and international levels.
During the talks, Ms.O.Algayerova also noted that the First Caspian Economic Forum initiated by the President of Turkmenistan will become a multilateral platform for the intensification of the constructive cooperation between the governmental and private sectors of the stakeholders.
On the 12th of August, in the framework of her visit, Executive Secretary of the UNECE will attend the Official Conference named “Caspian Sea: Benefits of developing the international economic cooperation.”
GB receives Chairman of the Union of Chambers and Exchanges of Turkey
[This part of the report taken from TDH, 9 August 2019, abridged]
President Gurbanguly Berdimuhamedov, who is in the Avaza NTZ, received the chairman of the Union of Chambers and Exchanges of the Republic of Turkey Rifat Hisardzhyklyoglu, who arrived in our country to participate in the events of the First Caspian Economic Forum.
During the meeting, the Turkmen leader and his guest exchanged views on the prospects for cooperation. As the President of Turkmenistan noted, our state, taking a course towards industrialization, relies on the formation of a modern industrial infrastructure, the effective implementation of innovations, advanced technologies and developments in practice. Here, special importance is attached to the implementation of state programs on import substitution and increasing the export potential of the national economy with a focus on the diversification of its industries and the production of various competitive products based on local raw materials.
In this context, the sides discussed the possibilities for a progressive increase in bilateral trade, expanding ties between the business structures of the two countries. At the same time, it was noted the need to intensify the Turkmen-Turkish business council, as well as holding industry exhibitions and joint business forums.
GB receives VINCI Vice President
[This part of the report taken from TDH, 10 August 2019, abridged]
President of Turkmenistan Gurbanguly Berdimuhamedov received the Deputy Chairman of the Board of Directors of the VINCI Group, Yves Thibault de Silgi, who arrived in our country to participate in the events of the First Caspian Economic Forum.
During the meeting, an exchange of views took place on the prospects for cooperation, taking into account the accumulated experience of joint work. Noting the effectiveness of the established partnership and its potential, the VINCI representative emphasized that this was made possible thanks to the foreign policy pursued by the head of Turkmenistan, one of the key vectors of which is the expansion of cooperation with the EU countries.
The guest also noted the interest of the company he represents in continuing a productive partnership, built on the principles of trust and mutual benefit. In this context, Mr. de Silguy made concrete proposals, introducing a new draft for consideration by the head of Turkmenistan.
In this regard, President Gurbanguly Berdimuhamedov noted that broad prospects for enhancing cooperation are opening up in the framework of the concept of development and improvement of Ashgabat, inviting VINCI to take part in its implementation.
Secretary General of IRU meets foreign minister
[This part of the report taken from MFA Turkmenistan, 11 August 2019]
On August 11, 2019, a meeting was held in the National Tourist Zone “Avaza” between the Deputy Chairman of the Cabinet of Ministers, Minister of Foreign Affairs of Turkmenistan R.Meredov and the Secretary General of the International Road Transport Union (IRU) Umberto de Pretto who has arrived to Turkmenistan to attend the First Caspian Economic Forum.
During the meeting, the parties discussed the effectiveness of cooperation of Turkmenistan with IRU in the area of transport and transit infrastructure. The guest noted the vital input of Turkmenistan in the process of perfecting the transport routes on the Eurasian space with the aim of attaining economic and social growth. Also the joint initiatives in the framework of the transport-transit corridor Lapis-Lazuli were discussed.
The parties looked at the opportunities of widening cooperation taking into consideration the international norms and requirements.
Ministry of Defense of Turkmenistan presents its products at Caspian Exhibition of Innovative Technologies
[This part of the report taken from Turkmen Portal, 12 August 2019]
The Akkumulýator önümçilik kärhanasy enterprise of the Ministry of Defense of Turkmenistan presents its products at the Caspian exhibition of innovative technologies of the Caspian states, Milli Goshun reports .
According to information, the specialists of this enterprise launched the modern production of two new brands of batteries – Kuvvatly and Yildiz. Made from domestic raw materials, they are designed to fully meet the needs of the country’s military and law enforcement agencies. The enterprise batteries suitable for all types of vehicles are sold on a contractual basis to various ministries and government departments, as well as to private entrepreneurs.
In addition, the company produces rubber rings and cuffs for transport equipment, various plastic containers for household needs, military uniforms and other items.
Russian prime minister arrives for Caspian Forum, post on social media a short clip of Turkmen Alabay pup he received a while ago
Prime Minister Dmitry Medvedev of Russia has arrived for the First Caspian Economic Forum. Before his departure from Russia, he posted a short clip of the Turkmen Alabay pup he received from the president of Turkmenistan a while ago.
“To everyone who was interested in the fate of the gift from the President of Turkmenistan Gurbanguly Berdimuhamedov. This is Hayk, he is 4 months old, settling in Gorki,” Dmitry Medvedev signed the video.
President of Turkmenistan Gurbanguly Berdimuhamedov presented the pup to Medvedev on his last visit to Ashgabat on May 31, 2019.
Russian companies interested in Turkmenistan’s oil and gas fields, says official
[This part of the report is from TASS, reporting from Moscow on 12 August 2019 – It should have been carried separately but we are pinning it to the report on the Caspian Economic Forum because it bears direct relation with the cooperation in the Caspian region]
Russia’s Rosneft, Lukoil and Gazprom companies have shown interest in developing oil and gas fields in Turkmenistan, First Deputy Head of the Russian Government Office Sergei Prikhodko told reporters.
He noted that the energy sector and, in particular, the gas industry created during the Soviet era was an important area of cooperation between the two countries, whose potential needs to be developed.
Mutual interest in close cooperation in the gas sector was enshrined in the protocol of the meeting of the bilateral intergovernmental commission held on May 7, 2019. The parties also highlighted their intention to make joint efforts to intensify it.
Prikhodko recalled that Russia’s Transneft provided oil transportation services to Turkmenistan’s companies. In 2011, the two sides signed an agreement on the transit of Turkmen oil along the Makhachkala-Novorossiysk route, with 1.91 mln tonnes transported from 2011 to 2018. Plans are in store to transport 2.26 mln tonnes of oil from Turkmenistan in 2019.
Besides, Tatneft is actively working in the Turkmen market, providing a wide range of services to increase oil recovery from the existing well stock and further use the potential for oil production.
In June 2019, Tatneft signed a memorandum of understanding with the Turkmenneft state concern to intensify cooperation in the field of drilling oil and gas wells and introduce modern technologies there. /// nCa, 12 August 2019