Baku, Azerbaijan, Nov. 23
Trend:
The 23rd International Conference “Oil and Gas of Turkmenistan 2018”, which was held in Ashgabat on November 20-21, has become another important step forward in strengthening economic and trade relations between Turkmenistan and its international partners.
Over 330 leading industry experts from 42 countries of the world, heads and representatives of 161 top oil and gas companies, major world international organizations and financial institutions took part in the conference. Among them: Petronas, Dragon Oil, CNPC International, British Petroleum, Hyundai Engineering Co. Ltd, ARETI International Group, Shell, Total, Credit Suisse, EBRD, ADB, TATNEFT, Exxon Mobil, Schlumberger, KPMG, Eni, Gap İnşaat, LUKOIL, Roxar, National Maritime Shipping Company "Kazmortransflot" LLP, Haldor Topsoe, LLC, Valvitalia SpA, Coral Energy and many others.
Petronas, Dragon Oil, British Petroleum, Shell, Buried Hill Energy, CNPC, Hyundai, Total, SUN Group, LG International, ARETI, Eni, ILF Consulting Engineers, Thales Alenia Space became OGT-2018 Sponsors.
A significant part of the presentations at the “Oil and Gas of Turkmenistan 2018” conference was dedicated to the analysis of various segments of Turkmenistan’s oil and gas industry, plans for cooperation in various areas and projects that could be implemented.
Each delegate presented an exclusive report on the main trends in the global energy market, prospects for the expansion of international cooperation, priorities and forecasts for the advancement of the gas and chemical industry, as well as analysis of the market for oil refinery products, directions for the production of environmentally friendly fuels and prospects for the development of the green economy. In addition, the investment climate in the oil and gas industry of Turkmenistan and the development of innovative technologies for hydrocarbons exploration and extraction were discussed.
The discussion session on the Turkmenistan-Afghanistan-Pakistan-India gas pipeline (TAPI) attracted particular attention. Representatives of the companies involved in the project: TAPI Pipeline Company Limited, Allen & Overy, ILF Consulting Engineers, Portland, as well as the financial advisor - the State Bank for Foreign Economic Affairs of Turkmenistan provided information on the TAPI progress, status and prospects to the parties concerned.
Moreover, specialists from leading Turkmen and foreign companies examined the impact of innovations on the entire oil and gas industry and the need to apply them in the realities of modern business.
During the event, business meetings of representatives of foreign companies with heads of the oil and gas complex of the country were held.
Facts: Turkmenistan ranks 4th in the world and 2nd in the CIS (after Russia) in terms of natural gas reserves.
The Galkynysh deposit is one of the largest fields in the world. According to the latest data, total natural gas reserves of this field together with the Yashlar deposit is currently estimated at 26.2 trillion m3 of natural gas, and together with the reserves of the newly discovered field Garakel, being a part of this block of fields - up to 27.4 trillion m3.
The availability of huge natural gas reserves allowed Turkmenistan to put forward new challenges for the country’s industrialization, the accelerated development of the economy through the use of modern equipment and latest technologies, the establishment of innovative production structures, and the deepening of the country's integration into the world economic system through increased international cooperation and boosted investment activity.