President: Turkmenistan demonstrates responsible approach to international cooperation in energy sector

Oil&Gas Materials 10 September 2012 14:13 (UTC +04:00)

Turkmenistan, Ashgabat, Sept. 10 / Trend H.Hasanov /

Turkmenistan demonstrates the most responsible approach to international cooperation in the energy sector, Turkmen President Gurbanguly Berdimuhamedov said at a meeting of the Cabinet of Ministers of Turkmenistan, touching on the issue of the International Oil and Gas Conference to be held in Ashgabat on September 13, the Turkmen government said on Monday.

According to an official Turkmen source, the event will be held as part of the presidency of Turkmenistan in the CIS in 2012.

"Turkmenistan demonstrates the most responsible approach to international cooperation in the energy sector, implementing major projects in creating the multiple gas transport system, as well as promoting its international initiatives in the field of energy security," the president said.

The meeting also noted that with abundant natural resources, Turkmenistan considers them as a factor of the important dynamic development of the national economy and ensuring the well-being and prosperity of the Turkmen people.

Ashgabat is consistently implementing its energy strategy whose important aspects are the increase in production and export of natural gas and the diversification of its supply routes to major world markets where there is a steady increase in demand for energy.

The upcoming international forum should demonstrate the increasing resource and industrial potential of the national fuel and energy complex and contribute to the further strengthening of mutually beneficial cooperation of Turkmenistan with leading foreign companies.

The president has issued orders to ensure a high level presence at the upcoming international conference in Ashgabat.

In accordance with the development of the oil and gas industry of Turkmenistan in 2030, the annual production of natural gas is projected to reach 230 billion cubic meters, most of which is for export.

According to BP, Turkmenistan ranks fourth in the world in terms of natural gas reserves after Russia, Iran and Qatar. At this stage, Turkmenistan exports natural gas to China, Iran and Russia.

Among the planned gas pipeline from Turkmenistan are additional ones to Russia (the Caspian gas pipeline - through Kazakhstan), Europe (Trans-Caspian gas pipeline - as part of the Nabucco or AGRI- via the Caspian Sea through Azerbaijan) and India (Trans-Afghan gas pipeline through Pakistan).