A key aspect of Turkmenistan's international economic cooperation is its partnership in the energy sector.
Based on the principles of diversification, which form the foundation of the national energy policy, Turkmenistan is actively developing close interactions with other countries and international organizations in the field of energy. This is evidenced by extensive and multifaceted professional connections with leading global companies showing great interest in collaborating with Turkmen partners.
In this context, on July 29 of this year, the heads of Turkmenistan's oil and gas industry held meetings with the leadership of ADNOC (United Arab Emirates) and Hyundai Engineering Co. Ltd. (Republic of Korea).
During the negotiations with the ADNOC delegation, led by Senior Vice President Abdullah Al Shamsi, a wide range of issues related to the implementation of the third phase of the "Galkynysh" field development project was discussed.
It is known that during the visits of President Serdar Berdimuhamedov and the National Leader of the Turkmen people, Chairman of the Halk Maslahaty of Turkmenistan, Gurbanguly Berdimuhamedov, to the United Arab Emirates in 2022-2024, strong foundations for cooperation between the two countries in the oil and gas sector were established. In particular, important documents were signed, outlining specific areas and parameters of joint activities at the "Galkynysh" field. Currently, the process of implementing the bilateral agreements is in an active phase of practical execution. The parties are thoroughly examining the legal, commercial, investment, financial, technical, and other components of the "Galkynysh" field development project. It is worth noting that the implementation of such plans is directly linked to the promotion of the "Turkmenistan-Afghanistan-Pakistan-India" (TAPI) gas pipeline project.
A notable feature of the current stage of negotiations was ADNOC's expression of readiness to work jointly with oil and gas companies from Kazakhstan. It should be noted that the Turkmen side has repeatedly expressed support for the participation of economic structures from neighboring states in the implementation of Turkmenistan's large-scale international gas projects.
Today, the leaders of the State Concern "Turkmengaz" held another round of consultations with the delegation of the South Korean company Hyundai Engineering Co. Ltd., headed by its Senior Vice President, Jung Song Yong. The parties exchanged views on the current state and prospects of work on the fourth phase of the "Galkynysh" field development.
Noting the high level of bilateral cooperation, the delegations paid special attention to important aspects of the aforementioned project, among which legal support and organization of work hold significant importance.
The Korean partners stated that the opportunities opening up for Hyundai Engineering in connection with its upcoming participation in the "Galkynysh" field development will allow the company to utilize its extensive potential in implementing energy projects and to enrich its previously accumulated international experience with new knowledge and practices in the gas industry. They also emphasized the necessity of fulfilling the agreements reached during mutual high-level state visits in 2023-2024. The parties agreed to continue regular meetings according to previously agreed schedules.
The negotiations held today in the country's oil and gas complex in an atmosphere of friendship, openness, and constructiveness once again demonstrated the high level of interest from foreign companies of various countries in working in Turkmenistan's energy sector.
Source: TDH
