ASHGABAT, Turkmenistan, October 29. Establishing a common LNG market in the region presents a significant opportunity, and Turkmenistan, with its substantial natural gas reserves, is positioned to become a key player in this initiative, said Conan Dai, CEO of Chinese Geo-jade Petroleum, Trend reports.
He made the statement at a panel session titled "The Future of Turkmenistan's Natural Gas: New Export Routes and Export Potential" within the 29th "Oil & Gas of Turkmenistan - 2024" International Conference & Expo in Ashgabat.
Conan Dai highlighted the potential advantages of establishing a unified LNG market, noting that liquefied natural gas (LNG) has increasingly become a crucial component of energy policies in Asian countries.
Moreover, he stated that this initiative would foster new opportunities for cooperation between exporting and consuming countries. By developing a common LNG market, Turkmenistan could diversify its export routes and attract investments aimed at modernizing its infrastructure.
Furthermore, he noted that a shared market would lead to reduced gas prices, improved energy security, and heightened competition within the industry.
According to the CEO, for this initiative to succeed, it is crucial to foster active collaboration among government agencies, private enterprises, and international organizations. Developing joint LNG projects and strategic plans will optimize resources and enhance conditions for all participants in the market. As the demand for clean energy continues to rise, the creation of a common LNG market could represent a significant advancement towards sustainable development, not only for Turkmenistan but for the entire region.
Geo-jade Petroleum Corporation is an oil and gas exploration and development company. Founded in 1984, it went public in 1996 and has since focused on strategic acquisitions, particularly in Kazakhstan, where it fully owns Maten Oil Company and Kozhan Company, expecting to produce over 700,000 tons of crude oil in 2016. The company aims to expand its operations across the entire oil and gas industry chain, including exploration, transportation, and processing.