These days, active preparations are underway for the upcoming Forum for attracting foreign investment in the energy sector of Turkmenistan, which will be held on April 26-27, 2023 in Dubai, UAE.
The purpose of this event is to expand opportunities for attracting foreign direct investment in the oil and gas industry of Turkmenistan and to strengthen the regional dialogue on the further sustainable development of the energy sector. 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 region as a whole.
Over 100 delegates have already registered for this event. Among the forum participants are high-ranking members of the UAE government, heads of major oil and gas companies, as well as international organizations.
The Forum agenda includes presentation of new investment projects in energy sector of Turkmenistan, namely, attracting investments for offshore blocks No. 21 and 23, Western Cheleken, optimization of production at mature fields and development of the next stages of the supergiant Galkynysh field, the second largest gas field in the world. UK’s GaffneyCline, together with the specialists of the Turkmennebit, are compiling investment packages that will be presented to investors as part of the upcoming Forum. The largest oil and gas companies of the UAE have confirmed their participation in the Forum.
In addition to the fuel and energy complex, the opportunities of the renewable energy sector will be presented to the attention of investors. Favorable natural and climatic conditions of the country contribute to the effective development of solar and wind energy. A striking example of this is the construction of a 10 megawatt hybrid solar-wind power plant, the construction of which will begin this year on Altyn Asyr Lake. The project will be funded by the Abu Dhabi Development Fund (ADFD), whose leadership has confirmed participation in the Forum.
The Forum programme also includes a discussion of issues related to the environmental aspects of hydrocarbon developments. This session will look at methane and associated gas metering data and methods from hydrocarbon production value chains, emissions measurement innovations, and reporting requirements in light of the accelerating trend in the global gas industry to reduce greenhouse gas emissions. Practical examples of international oil companies operating in Turkmenistan under the Production Sharing Agreement will be considered. In addition, the national oil companies will provide their latest updates and action plan to reduce methane and CO2 emissions. It is noteworthy that at the end of the year Dubai will host the global climate summit COP 28 “the purpose of which will be to jointly find solutions for mitigation, adaptation, loss and damage, and climate finance.” Participation in this session was confirmed by representatives of the UN Global Methane Observatory, as well as leading environmental organizations.
In general, in addition to presenting the investment potential of Turkmenistan in the energy coplex, the Forum promises to become a good platform for establishing mutually beneficial cooperation and establishing new ties between the business circles of the two countries. For more information, please visit: www.ogt-turkmenistan.com ///nCa, 20 March 2023 (in cooperation with Turkmen Forum)