Turkmenistan Hosts International Investment Forum to Attract Foreign Investment in Energy Sector

Turkmenistan is hosting the International Forum to attract foreign investment in the energy sector (TEIF 2024) in Paris, France on April 24-25, 2024. The goal of the forum is to expand opportunities for attracting foreign direct investment in all segments of Turkmenistan's energy industry, including production, transportation, and refining of oil and gas, as well as renewable energy sources, transportation, construction, and environmental aspects of hydrocarbon field development.

The forum, organized by Turkmengas State Concern, Turkmennebit, and Turkmengeologiya in partnership with the Turkmen Forum and the British company GaffneyCline, has brought together over 300 delegates from 31 countries. Key speakers include heads of national companies in the hydrocarbon sector, such as Turkmengaz and Turkmennebit. The event aims to highlight the prospects for investor participation in the development of the Galkynysh gas field, the Turkmen shelf of the Caspian Sea, petrochemical and gas chemical projects, and the construction of an underground gas storage facility and other infrastructure.

Why this matters: Turkmenistan, with its vast hydrocarbon resources, is actively seeking foreign investment to develop its energy sector and meet the growing global energy demand. The country's stable economic and political climate, well-established legal framework, and commitment to addressing climate change make it an attractive destination for investors.

The forum will discuss the future of cooperation related to hydrocarbon production, transportation, and refining, as well as the development of renewable energy. A key topic will be effective solutions to reduce methane and associated gas emissions during hydrocarbon field development, with high-level speakers from OPEC, the UN, and international companies discussing this issue. Turkmenistan has also taken steps to address climate change, such as joining the Global Methane Pledge and establishing a Regional Center for Climate Technologies.

In addition to the energy sector, Turkmenistan is actively integrating into global logistics systems and welcoming investors in the transport and communications sector to implement joint projects to modernize the infrastructure of maritime, rail, air transportation, and satellite communications. The country is also increasing its gas exports to China, with March 2023 exports reaching a record high of 2.9 billion cubic meters.

Ashyrguly Begliyev, the adviser to the President of Turkmenistan on oil and gas issues, stated that "the growing attractiveness of Turkmenistan for foreign investors is due to the stable economic and political situation in the country, as well as the legislative framework and state guarantees." The priority forms of cooperation with foreign partners include service contracts, joint ventures, and 'turnkey' projects, with particular attention paid to environmental aspects and the reduction of methane emissions.

Key Takeaways

• Turkmenistan hosts TEIF 2024 in Paris to attract foreign investment in energy sector
• Forum aims to expand opportunities for FDI in oil, gas, and renewable energy projects
• Turkmenistan offers stable economy, legal framework, and climate change commitment
• Discussions on reducing methane emissions and expanding gas exports to China
• Turkmenistan welcomes foreign investment in energy, transport, and communications