Italian Eni interested in strengthening its position in Turkmen market

Photo: Italian Eni interested in strengthening its position in Turkmen market
 / Turkmenistan

Ashgabat, Turkmenistan, July 3

By Huseyn Hasanov- Trend:

Turkmen President Gurbanguly Berdimuhamedov received the head of Italy's Eni oil and gas company, Claudio Descalzi, a message from the Turkmen government said on July 2.

"Descalzi emphasized the great interest of his company in strengthening its position in the rapidly developing Turkmen market, which is a very promising market in virtue of large resource and economic potential and the favorable investment climate in the country," the government message said.

Turkmenistan, which has hydrocarbon resources of global importance, conducts the modernization of its fuel and energy complex. This program envisages creation of related infrastructure, increasing the hydrocarbon production volume and creating a developed network of export routes for delivering the country's energy resources to world markets.

"This requires not only investments, but also the work experience of leading world companies specialized in this sphere," Turkmen president said and confirmed the interest in the proposals of foreign partners, including Italian Eni that conducts the exploration and production of gas in tens of countries.

The Italian businessman assured that his company will make every effort to implement the reached agreements.

Eni entered the Turkmen market in 2008, after purchasing the shares of UK Burren Energy Plc.

Eni is also interested in assisting in bringing Turkmen gas to the Indian market.

Turkmenistan is also interested in entering the European market. The project on laying the Trans-Caspian pipeline to the coast of Azerbaijan, where Turkmen raw materials can be delivered to Turkey and further - to Europe is underway.

Currently, the country invites foreign companies, as well as the European ones to develop hydrocarbons in the Turkmen part of the Caspian Sea, where 11 billion tonnes of oil and 5.5 trillion cubic meters of gas of forecasted resources, excluding contracted blocks, are concentrated.

Edited by CN

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