The XVI International Conference on the Oil and Gas Industry Development for 20 Years of Independence of Turkmenistan and the Prospects of International Cooperation was held at Sergi köşgi in the Turkmen capital in the framework the international oil and gas forum.
The high-level conference brought together about 500 foreign participants from over 20 countries of the world. Scientists and experts, specialists of the authoritative international organisations, top oil and gas companies and Turkmen sectoral departments, foreign and Turkmen journalists and diplomats participated in the forum.
The keen interest in this, sixteenth conference is provoked by the tremendous energy potential of Turkmenistan that has the world’s hydrocarbon reserves. It also conditioned by the open energy policy of our country and its constructive international initiatives aimed at ensuring global energy security and welcomed by the international community.
In his welcome address to forum participants President Gurbanguly Berdimuhamedov emphasized that the exhibition and conference were to play an important role in discussing the issues related to new options and priority fields of mutually advantageous cooperation of Turkmenistan with the world oil and gas business and foreign investors that would facilitate the development of Turkmen fuel and energy sector.
It was noted in the reports presented at the conference that during the years of independence Turkmenistan had gained the reliable reputation of being a world’s energy power and nowadays effectively pursued the energy policy including such critical aspects as modernization and technical re-equipment of fuel and energy enterprises and the strengthening of the raw materials base of the sector, including through accelerated commercial development of new oil and gas deposits discovered for the past 20 years in the Amu Darya basin, central Karakum, in offshore area and coastal zone of the Caspian Sea, and diversification of transit of Turkmen energy to world markets.
Currently, experts estimate total geological reserves of Turkmenistan as 71.21 billion tons of equivalent fuel, of which 53.01 billion tons are land reserves and 18.2 billion tons are offshore reserves. As of October 1, 2011, the proved gas reserves are estimated at 25.213 trillion of cubic metres. For comparison, Turkmenistan’s energy potential has been estimated lately at 45.44 billion tons of equivalent fuel.
The open-door policy, the international legislation meeting international standards and the favourable investment climate – all this facilitates mutually advantageous partnership with foreign business circles.
Forum participants noted that construction of the TAPI gas pipeline that provides for construction of a hundred of new infrastructure facilities would be a significant contribution to developing international energy cooperation, an effective stabilizing factor which would have a positive impact on the general situation and make political and economic contacts on the Asian continent stable.
The other promising options for Turkmen gas exports are worked out intensively. In particular, coincidence of interests of Turkmenistan as a largest natural gas producer and European Union member states where natural gas imports are predicted to increase over the next decade has facilitated enhancing relations at interstate level.
Dwelling upon cooperation in the energy sector, the representatives of the European Commission, the U.S. Department of State, the energy ministries and departments of the United Arab Emirates, the Russian Federation and other countries emphasized in their reports that Turkmenistan was actively taking over the leadership on the Eurasian energy market.
Participants representing the world’s leading companies, including British Petroleum, Shell, the China National Petroleum Corporation (CNPC), RWE, Тotal, Chevron, Petronas, Dragon Oil», Itera, ExxonMobil, Eni and the others, made the presentations on their experience of operation in our country, ongoing joint projects and plans for the future. In particular, they underlined great prospects of the Turkmen market with its enormous energy resources and the favourable investment climate created for foreign businesses.
The presentation of an expert of the British firm Gaffney, Cline & Associates on the results of the international audit of the reserves of the Southern Yoloten-Osman and Yashlar fields aroused particular interest. The audit results show that the total reserves of hydrocarbon resources of these fields are estimated at 26.2 trillion cubic metres and place this ‘blue fuel’ storage house the second in the world.
However, these estimations are not a limit of these deposits. There is much probability that the results of further exploration work will exceed the present estimates of the reserves of these gas fields.
The important issues under discussion included the possibilities to export Turkmen gas to Europe, including through construction of the Trans-Caspian gas pipeline. It was noted that the European Union was ready to offer an integrated complex market, predicted and consistent with relevant legal standards, agreements and contractual terms, respect and balance of interest of all parties involved to Turkmenistan.
Thus, this week the Turkmen capital has served as a large international platform for discussing critical approaches to developing the global energy market and energy integration and security.
The high-level conference brought together about 500 foreign participants from over 20 countries of the world. Scientists and experts, specialists of the authoritative international organisations, top oil and gas companies and Turkmen sectoral departments, foreign and Turkmen journalists and diplomats participated in the forum.
The keen interest in this, sixteenth conference is provoked by the tremendous energy potential of Turkmenistan that has the world’s hydrocarbon reserves. It also conditioned by the open energy policy of our country and its constructive international initiatives aimed at ensuring global energy security and welcomed by the international community.
In his welcome address to forum participants President Gurbanguly Berdimuhamedov emphasized that the exhibition and conference were to play an important role in discussing the issues related to new options and priority fields of mutually advantageous cooperation of Turkmenistan with the world oil and gas business and foreign investors that would facilitate the development of Turkmen fuel and energy sector.
It was noted in the reports presented at the conference that during the years of independence Turkmenistan had gained the reliable reputation of being a world’s energy power and nowadays effectively pursued the energy policy including such critical aspects as modernization and technical re-equipment of fuel and energy enterprises and the strengthening of the raw materials base of the sector, including through accelerated commercial development of new oil and gas deposits discovered for the past 20 years in the Amu Darya basin, central Karakum, in offshore area and coastal zone of the Caspian Sea, and diversification of transit of Turkmen energy to world markets.
Currently, experts estimate total geological reserves of Turkmenistan as 71.21 billion tons of equivalent fuel, of which 53.01 billion tons are land reserves and 18.2 billion tons are offshore reserves. As of October 1, 2011, the proved gas reserves are estimated at 25.213 trillion of cubic metres. For comparison, Turkmenistan’s energy potential has been estimated lately at 45.44 billion tons of equivalent fuel.
The open-door policy, the international legislation meeting international standards and the favourable investment climate – all this facilitates mutually advantageous partnership with foreign business circles.
Forum participants noted that construction of the TAPI gas pipeline that provides for construction of a hundred of new infrastructure facilities would be a significant contribution to developing international energy cooperation, an effective stabilizing factor which would have a positive impact on the general situation and make political and economic contacts on the Asian continent stable.
The other promising options for Turkmen gas exports are worked out intensively. In particular, coincidence of interests of Turkmenistan as a largest natural gas producer and European Union member states where natural gas imports are predicted to increase over the next decade has facilitated enhancing relations at interstate level.
Dwelling upon cooperation in the energy sector, the representatives of the European Commission, the U.S. Department of State, the energy ministries and departments of the United Arab Emirates, the Russian Federation and other countries emphasized in their reports that Turkmenistan was actively taking over the leadership on the Eurasian energy market.
Participants representing the world’s leading companies, including British Petroleum, Shell, the China National Petroleum Corporation (CNPC), RWE, Тotal, Chevron, Petronas, Dragon Oil», Itera, ExxonMobil, Eni and the others, made the presentations on their experience of operation in our country, ongoing joint projects and plans for the future. In particular, they underlined great prospects of the Turkmen market with its enormous energy resources and the favourable investment climate created for foreign businesses.
The presentation of an expert of the British firm Gaffney, Cline & Associates on the results of the international audit of the reserves of the Southern Yoloten-Osman and Yashlar fields aroused particular interest. The audit results show that the total reserves of hydrocarbon resources of these fields are estimated at 26.2 trillion cubic metres and place this ‘blue fuel’ storage house the second in the world.
However, these estimations are not a limit of these deposits. There is much probability that the results of further exploration work will exceed the present estimates of the reserves of these gas fields.
The important issues under discussion included the possibilities to export Turkmen gas to Europe, including through construction of the Trans-Caspian gas pipeline. It was noted that the European Union was ready to offer an integrated complex market, predicted and consistent with relevant legal standards, agreements and contractual terms, respect and balance of interest of all parties involved to Turkmenistan.
Thus, this week the Turkmen capital has served as a large international platform for discussing critical approaches to developing the global energy market and energy integration and security.
