Natural Gas to Become 'Bridge' to More Stable Future

Natural Gas to Become 'Bridge' to More Stable Future

The 24th international conference “Oil and Gas of Turkmenistan - 2019” began its work in the Chamber of Commerce and Industry of Turkmenistan.

In his speech at the opening ceremony of the conference, Deputy Chairman of the Cabinet of Ministers of Turkmenistan Myratgeldy Meredov noted that this conference will contribute to the development and strengthening of cooperation between Turkmenistan and international companies.

At the plenary session of the conference, the participants pad attention to the development of the international energy market and issues of cooperation in this area. Deputy Director of Turkmengaz State Concern Guvanch Agajanov, President of Socar Rovnag Abdullayev, Director of Vitol Group Russell Hardy, Visa President of CNPC Wang Zhongcai and World Bank Senior Oil and Gas Expert Alexander Hardeman took part at the session, chaired by the President of Gaffney, Cline & Associations, Nathan Meehan.

Guvanch Agajanov noted that representatives of more than 100 companies of the world are participating in the international conference and that investment opportunities for foreign companies are increasing in Turkmenistan. Agajanov outlined the main directions of the global energy market and informed about the possibilities of the gas pipeline system of Turkmenistan.

President of Socar Rovnag Abdullayev emphasized the impact of the Convention on the Legal Status of the Caspian Sea and the First Caspian Economic Forum held in August on cooperation between countries. He noted that Turkmenistan’s participation in the annual meeting of ministers of the Southern Gas Corridor countries contributes to the increase of cooperation between the Caspian states.

In order to develop partnerships with Turkmen oil companies and companies specializing in the oil and gas sector, Abdullayev expressed his readiness to open a branch of Socar Trading in Turkmenistan.

Gaffney, Cline & Associations President Nathan Meehan gave speech about the situation in world energy market. Meehan emphasized that the fight against climate change is increasing investment in renewable energy and noted a decrease in carbon emissions in the United States due to an increase in natural gas production.

Meehan underlined the fact that China could do more in reducing carbon dioxide emissions into the atmosphere through natural gas imports. He then noted that those seeking more renewable energy acknowledged that natural gas would become a 'bridge' to a more stable future.

The first day of the conference continued its work with a session devoted to improving the development of oil and gas deposits and attracting foreign investment.