On October 23, the XXIX International Conference and Exhibition "Oil and Gas of Turkmenistan-2024" began its work at the Chamber of Commerce and Industry, organized by the State Concerns "Turkmengaz", "Turkmennebit" and the State Corporation "Turkmengeologiya".

The main purpose of the event is to strengthen the regional dialogue on the further development of the energy sector, review the latest trends in the global energy system, and expand opportunities to attract foreign investment in the oil and gas industry of Turkmenistan.

A large specialized forum is held not only in the traditional format, but also broadcast online to dozens of countries around the world.

In the morning, the opening ceremony of the exhibition and conference "Oil and Gas of Turkmenistan–2024" was held, which was attended by members of the Government, heads of industry departments, heads of diplomatic missions accredited in Turkmenistan and reputable international organizations, specialists of well-known oil and gas business structures and financial institutions, leading experts of companies engaged in this field, representatives of public organizations, Media, foreign guests, etc.

The forum brought together hundreds of participants, including representatives of foreign companies, major international organizations and banks. Some of them joined the discussions on the digital system. The guests were introduced to presentations on the formation of a strategy for the future of the international, regional and domestic fuel and energy industry, as well as review analytical materials on the state of affairs in the world oil market, marketing strategies in this area.

The number of delegates to the forum is expanding from year to year, which indicates a steadily increasing interest on the part of business circles from different countries in building up productive cooperation with Turkmenistan. Their desire to strengthen partnership is also conditioned by the policy of "open doors" and constructive initiatives of our country aimed at ensuring global energy security.

The welcoming Address of President Serdar Berdimuhamedov was heard with great attention, in which it was emphasized that the annual industry exhibition and conference "Oil and Gas of Turkmenistan" serve as a platform for constructive discussion of priorities in the development of the domestic fuel and energy complex, ways to activate targeted mutually beneficial partnership, methods of introducing new technologies into the oil and gas sector and modernization of production. The specialized exhibition within the framework of the international forum provides visitors with the opportunity to get directly acquainted with innovations, modern developments and new projects.

"Independent Turkmenistan, which has enormous reserves of hydrocarbons, strives to use natural resources not only in the national interests, but also in the interests of other peoples of the region and the world, and in this regard, consolidation of efforts is the main factor in achieving the goals set," the President of the country noted in his message.

The annual industry review serves as a productive platform for the wide popularization of the achievements of the domestic fuel and energy complex in the era of the Revival of a new era of a powerful state, business communication between Turkmen and foreign specialists, leading manufacturers from Europe, Asia and America, establishing direct contacts, launching new projects, familiarization with global trends and prospects for the development of the industry,

About 70 exhibitors, of which more than 40 are foreign companies, have placed their stands in the exhibition hall of the Chamber of Commerce and Industry of Turkmenistan. In particular, from Belgium, Great Britain, Germany, Georgia, the Republic of Kazakhstan, the People's Republic of China, the Republic of Korea, Malaysia, the United Arab Emirates, the Russian Federation, the United States of America, the Republic of Turkey, the Republic of Uzbekistan, France, Japan, etc.

The main exhibitors of the exhibition were the State Concerns Türkmennebit and Türkmengaz, the State Corporation Türkmengeologiýa, as well as dozens of industry enterprises and private entrepreneurs working in the field of domestic fuel and energy sector. It presents a wide range of products and services in the field of exploration, production, transportation and provision of hydrocarbon storage systems, deep drilling, modernization of existing and construction of new pipelines, increasing oil and gas refining capacities, and increasing well returns.

Expositions on the topic of marine exploration and the formation of coastal infrastructure, as well as eco-innovations and promising developments in the field of renewable energy sources, improving environmental safety at enterprises, have a separate place.

Foreign companies specializing in the oil and gas sector, metallurgy, chemical, machine-building, energy, industrial industry and possessing high technological and technical potential can not only present their products here, but also significantly expand partnerships and increase the effectiveness of business contacts.

A huge monitor is installed in the center of the exhibition area, which shows footage telling about the development of the national oil and gas industry. The participants had a unique opportunity to experience themselves in the role of an operator for the extraction of natural resources in virtual reality mode with the help of technical means, to be present during oil drilling and exploration of natural gas fields.

The international conference "Oil and Gas of Turkmenistan – 2024" started its work in the afternoon. Topical issues such as global trends in the development of energy markets and opportunities for cooperation, the development of existing and optimization of production at new oil and gas fields with the attraction of foreign investment, including for the development of offshore blocks of the Turkmen sector of the Caspian Sea, energy transition and the role of technological innovations and human capital, the use of low-carbon fuels in the energy sector were touched upon. for example, reducing methane and CO2 emissions, underground gas storage and geothermal energy.

As noted at the plenary session "New trends in the global energy market and prospects for mutually beneficial cooperation", the current forum allows us to assess the further development of energy diplomacy. The need to create new routes for energy trade and market commodity cycles, review priorities and solve problems of energy security and environmental protection was emphasized.

Our independent, neutral Homeland, possessing huge reserves of hydrocarbon resources, under the leadership of President Serdar Berdimuhamedov, consistently implements a comprehensive strategy in the fuel and energy sector. Its key components are the modernization of the core infrastructure based on advanced technologies and developments, where special attention is paid to the environmental factor, increasing the capacity of the extractive and processing industries, and diversifying the supply routes of "blue fuel".

In this context, international energy cooperation, including the transition to clean energy, is a priority of Turkmenistan's economic policy based on the principles of long-termism, openness, consideration of national interests and mutual responsibility of the parties.

In their reports, representatives of our country stressed that the solution of these tasks is directly related to building up partnerships with foreign manufacturers of equipment for the oil and gas processing industry, investment organizations.

The Turkmen side also voiced proposals for further expansion of cooperation in this area, noting that the real prerequisites for attracting financial investments in the development of the extractive and processing industries of the fuel and energy complex were the conditions created in the country, namely, a favorable investment climate, tax incentives, etc.

A significant role in the implementation of large–scale programs for the industrialization of the country on an innovative basis and the expansion of its export opportunities is assigned to the leading branch of the national economy - the oil and gas industry.

As an initiative participant in international processes, Turkmenistan offers its huge potential for use in the common interest, voicing a vision of sustainable goals and the possibility of achieving them. It was also emphasized that, being one of the major exporters of energy resources, our country stands for the formation of sustainable international systems for their transportation.

The plenary session, including via videoconference, was attended by the UN Permanent Coordinator in Turkmenistan Dmitry Shlapachenko, Minister of Energy of Uzbekistan Zhurabek Mirzamakhmudov, Chairman of the Management Board of JSC NC KazMunayGas (Kazakhstan) Askhat Khasenov, Senior Vice President for International Business, Gas and LNG at ADNOC (UAE) Abdullah Al Shamsi, Vice President of CNPC Zhang Daowei, Vice Chairman of S&P Global Commodity Insights Daniel Yergin, Executive Vice President for Exploration and Production at British Petroleum Ariel Flores et al.

In their reports, the foreign guests emphasized that a constructive approach to issues of mutually beneficial partnership, creative initiatives of Turkmenistan to form a new architecture of global energy security are widely supported by the world community.

The work of the conference continued in thematic sessions. The first of them is "Commodities for the energy Transition: key trends and investment opportunities." The discussion was attended by the heads and representatives of such foreign companies as Baker Hughes (USA), Eni S.p.A., Dragon oil, PETRONAS Carigali (Turkmenistan) Sdn Bhd" and others.

Source: Innovation information center of the Ministry of Education of Turkmenistan