Italian Pietro Beretta SPA studies Turkmen market

Photo: Italian Pietro Beretta SPA studies Turkmen market / Turkmenistan

Ashgabat, Turkmenistan, April 29
By Huseyn Hasanov- Trend:

President of Turkmenistan Gurbanguly Berdimuhamedov received the Vice President and Managing Director of Italian "Pietro Beretta SpA" company, Gusalli Franco Beretta.

During the meeting they discussed possible partnership diversification in the oil and gas sector which is basic for Turkmen economy and security, the Turkmen TV channel Altin Asir reported. The Italian company which specializes in this sector, presented proposals on cooperation.

The businessman stated the aspiration of European Union business circles to establish long-term cooperation with Turkmenistan, a country which possesses colossal industrial, economic and resource potential.

"As it was reported within the framework of the meeting, the "open doors" policy pursued by President Berdimuhamedov and favorable investment climate created in the country make the Turkmen market very attractive for all foreign business," the report said.

Ashgabat and Rome regularly hold joint business forums which involve more than 70 heads of corporations, banks and leading companies of Italy such as Eni, Edison, Tecnimont, Bonatti, Fiat, Italian State Railway, Ferrero, Pirelli, Italtsement, shipyard companies, Benetton, RAI International, Unicredit group, Alenia Aerospace, SELEX Commumications, and others.

These companies specialize in the fields of energy, agriculture, food and textile industries, construction, transport, telecommunications, banking, finance, and aerospace.

Italian business is represented in the Turkmen market by Eni UK Holding plc ("daughter" of Italian`s Eni), which has bought shares of British Burren Energy. Activity is carried out within the framework of the production sharing agreement signed in 2001.

This company conducts industrial production of oil at the Burun field, which is part of the contractual territory of Nebit Dag (renamed - Balkanabad). The Eni`s management has also expressed their desire to assist in the long term on the entrance of the Turkmen gas to the Indian market.

Furthermore, the European Union with the expectation of resources of the Caspian region, primarily from Azerbaijan and Turkmenistan, promotes the Southern Gas Corridor project, part of which can be the construction of the Trans-Caspian gas pipeline.

Translated by S.I.
Edited by C.N.

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Tags: Turkmenistan