The meeting focused on improvement of investment activity, modernization and diversification of the leading sector of the economy, improvement of activity of fuel and energy agencies by implementation of advanced international practice and digital technologies.
Having noted the necessity to expedite implementation of new projects in the oil and gas industry based on achievements of modern science, stepping up scientific studies in this direction, the President focused on importance of consolidation of efforts, coordination of activities of relative organizations, which would provide the dynamics of development of complex in accordance with modern requirements.
First report was made by Y.Kakayev, who reported on the fulfilment of the instructions given by the President on the development of the fuel and energy complex, creation of all conditions for enhancing international cooperation in this field, and exploration and development of new oil & gas fields in accordance with scientific basis.
It was also reported that comprehensive work is underway to train highly qualified specialists for the oil and gas sector and to introduce innovative methods, modern expertise and scientific achievements into all industry structures. At the same time, based on the energy strategy and initiatives of the head of state, great importance is attached to the tasks of diversifying Turkmen gas supplies to the world market.
The President noted that the development of the fuel and energy complex with a focus on science, as well as all sectors of the national economy, is an urgent requirement of our time and instructed to intensify work in this direction. In this regard, priority should be given to exploration of new oil and gas fields, their development, as well as the scientifically sound development of the processing complex of the oil and gas industry.
This will be of great importance in building the potential of production capacities, developing the industry on a multi-vector basis, and, as a result, increasing the export potential of the fuel and energy complex, the President of Turkmenistan noted, addressing a number of instructions regarding the work being carried out in this direction.
Y. Kakaev reported to the head of state Gurbanguly Berdimuhamedov on the results of the international conference “TAPI - the pipeline for peace and cooperation” and the Roadshow for attracting foreign investment in the oil and gas industry of Turkmenistan, held on February 24-25 in Dubai (UAE). The report also provided detailed information on the results of the 6th meeting of the Advisory Council of the Southern Gas Corridor, held in Baku at the ministerial level.
Advisor to the President of Turkmenistan on oil and gas issues said that the meeting in Dubai raised big interest among leading international oil and gas companies and relevant financial institutions. As noted, this forum has become yet another evidence of the readiness of our state to establish multilateral equal partnership in such an important area as global energy security.
More than 300 delegates representing 113 IOCs from 42 countries took part in Dubai Roadshow. The speakers and the delegates of the Forum have exchanged opinions on perspectives and benefits of the TAPI translational pipeline project (Turkmenistan – Afghanistan – Pakistan – India), significant investment potential of the national oil and gas industry, due to the stable political and economic situation in the country and the relevant legislative base.
As emphasized, specific agreements were reached regarding further cooperation with Dragon Oil (UAE), one of the largest oil and gas companies in the world, and reputable international organizations operating in this field, to build relations across the entire spectrum of activities.
Y. Kakaev said that during the regular meeting of the Advisory Council of the Southern Gas Corridor in Baku (Azerbaijan Republic), an interesting exchange of views took place on the issues submitted for consideration, as well as on the possibilities of international partnership in this direction and the main ways of solving outlined future challenges.
President Gurbanguly Berdimuhamedov has ordered that necessary measures should be taken in order to intensify organization of international events related to the energy sector, in addition to organization of international conferences, which play an important role in improving the activities of the energy agencies on a regular basis.
Stressing the importance of preparing proposals together with relevant agencies, designed to ensure the effectiveness of work in this direction, the head of state noted that great importance should be given to expanding the scope of activities for the implementation of new projects in the oil and gas industry.
The Turkmen leader drew attention to the fact that, along with accelerating the construction of the Turkmenistan-Afghanistan-Pakistan-India gas pipeline, there should be close monitoring of issues related to successfully solving the issues arising from the oil and gas industry development program.
In addition to the international conference, President Gurbanguly Berdimuhamedov continued, a Roadshow for attraction of foreign investment in the oil and gas industry of Turkmenistan was held in Dubai.
Pointing out the need to continue negotiations with companies that have expressed interest in cooperation, the head of state noted that appropriate work should be done to increase the attractiveness of opportunities to participate in the development of oil and gas resources of the Turkmen sector of the Caspian Sea for foreign investors.
Continuing this topic, the President of Turkmenistan noted that in order to develop international partnership and attract investment to the oil & gas industry, it is necessary to present all opportunities available for attracting foreign capital in fine detail. It is necessary to propose cost-effective projects, the head of state summed up, including the construction of new gas chemical complexes, dividing them into stages based on economic feasibility.
In continuation of the meeting, the chairman of the State Concern “Turkmengas” M. Archaev, reported on the progress of implementing the Program for the Development of the Oil and Gas Complex of Turkmenistan until 2030, ongoing exploration work, increase of fuel production, and diversification of export gas pipeline routes.
He also reported on organization of international events aimed at accelerating the pace of development of the country's gas chemical industry, increasing the productivity of gas fields, developing new vectors of partnership for investment projects, and attracting foreign investment into the industry.
Currently, the fuel and energy complex is faced with the task of introducing best international practices, innovative methods, increasing its export potential in all segments of the industry, the President said, emphasizing that the work carried out in this direction should become the main driving force for the development of the entire complex.
As the head of state noted, the development of the gas chemical industry, strengthening the production potential of the industry, increasing the volume of processed products and expanding its assortment are relevant. Great importance should be given to the issues of increasing the production capacities of the gas chemical industry, based on modern requirements.
In this context, noting the need for special attention to increase the export potential of the industry, including the modernization of the activity of its production structures, the head of state emphasized that the work carried out in this direction should be productive, and gave relevant instructions.
Among the urgent tasks on agenda are further expansion of activities and increasing the export capacity of gas chemical complexes in Kiyanly and Garabogaz, the world's first plant for the production of environmentally friendly synthetic gasoline from natural gas in the Akhal region, the President continued.
Then, addressing the participants of the meeting, the head of state noted that the key tasks facing the fuel and energy complex were identified in the Program for the socio-economic development of the country for 2020-2025. In this context, particular importance is attached to issues of increasing investment activity and the digitalization of the complex.
Implementation of the TAPI gas pipeline should be accelerated and achievements in implementation of this project should be widely publicized, the President said. The need to actively inform the public about the positive role of the TAPI gas pipeline in ensuring energy security and improving the economic stability of the countries of the region was emphasized.
In particular, the President of Turkmenistan noted that it is necessary to expand the infrastructure of the oil and gas industry through diversification and the creation of new modern industries. In this regard, the processing of natural gas and the production of new types of products is a priority for us, the head of state said.
Our energy strategy is based on multi-optional energy routes principle, expansion of its geography, involvement of bigger number of countries interested in participation in international energy processes, the President noted.
The head of state clarified that this is about objective tendencies in geo-economics when it is diversification and presence of alternative routes of supplies - are the crucial prerequisite for global energy security and stability of entire system of the world economic relations.
While noting that the necessary work is currently underway to develop international cooperation, the head of state signed an Order on the secondment of Deputy Prime Minister, Foreign Minister R. Meredov and Chairman of the State Concern “Turkmengas” M. Archaev to the Kingdom of Morocco to study the market for the sale of goods produced by petrochemical complex.
President Gurbanguly Berdimuhamedov emphasized that strengthening fruitful relations with various countries of the world is one of the most important directions of Turkmenistan’s foreign policy. In the context of the role of political consultations between the foreign affairs ministries of Turkmenistan and Morocco in the development of bilateral cooperation, the head of state has instructed vice – premier, the minister of foreign affairs R. Meredov to lead the delegation, which is going to a business trip to the Kingdom of Morocco.
Stressing that during this official trip, issues related to the development of interaction in the political, trade, economic, cultural and humanitarian spheres will be discussed, the Turkmen leader instructed to convey to the King of Morocco an invitation to participate in celebrations on the 25th anniversary of Turkmenistan’s neutrality, celebrated on international level.
Focusing on the fact that currently the processing of raw materials is the main direction of development of Turkmenistan - a powerful energy state in the world, as well as attracting high technologies, new achievements of science to this sphere, the Turkmen leader gave a number of instructions to intensify the measures taken in this area.
Concluding the meeting, President Gurbanguly Berdimuhamedov pointed out the importance of the tasks set to diversify the country's fuel and energy complex and wished respective executives success in their work.
