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Turkmenistan: System of int'l energy supplies becomes weak link in global economy

Business Materials 20 September 2011 15:12
The current system of international energy supplies has become one of the weakest links in the global economy, the analytic material of "Turkmen Dovlet Habarlari" public news service said.
Turkmenistan: System of int'l energy supplies becomes weak link in global economy

Turkmenistan, Ashgabat, Sept. 20 / Trend H. Hasanov /

The current system of international energy supplies has become one of the weakest links in the global economy, the analytic material of "Turkmen Dovlet Habarlari" public news service said.

"Political instability in certain regions of the planet, the lack of universally recognized international legal mechanisms, inadequate energy infrastructure and incomplete geography of pipeline routes has contributed to the fact that the current system of international energy supplies has become one of the weakest links in the global economy," the article said.

Turkmenistan made a proposal to organize the inter-regional energy dialogue under
the UN at the 66th session of the UN General Assembly in New York.

The initiative aims to intensify the discussion of this issue. It will accelerate the development of universal international legal mechanisms and practical measures to ensure safe and reliable energy supplies to the world markets.

It is necessary to completely eliminate the possibility of using energy lines as a tool for political pressure and economic diktat.

The Expert Group will aim to concentrate the activity in three main directions.

First, it is the legal base to ensure the reliable and stable transit of energy resources to world markets.

The matter rests in multilateral and comprehensive international legal documents, such as the UN Treaty on safeguards of energy transit.

Second, it is necessary to form a new institutional base necessary to implement the norms of international law on transportation of energy resources.

Third, it is necessary to create a new information base which will will provide monitoring and control over the execution of international obligations in the field of supplying international energy resources.

The UN Energy Council must be the main coordinating body responsible for making
political decisions in this area.

Turkmenistan holds a key position on natural gas supplies in the region.

Russia, China and Iran are importers.

It is planned to increase annual natural gas production to 230 billion cubic meters in 2030 in accordance with the oil and gas development program.

According to BP's report on natural gas reserves in the world, Turkmenistan ranks fourth after Russia, Iran and Qatar.

South Yoloten-Osman is the largest field in the country, having 22 trillion cubic meters.

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