The demand for liquefied petroleum gas (LPG) in Asia is growing, and Turkmenistan, with its vast natural gas reserves, has the potential to become a major player in this segment, said Conan Dai, CEO of China’s Geo Jade Huineng Energy Consortium, at the Oil and Gas of Turkmenistan (OGT-2024) conference on Wednesday in Ashgabat.
According to Dai, the creation of a unified LPG market will open new opportunities for cooperation between exporting and consuming countries. This would allow Turkmenistan not only to diversify its export routes but also to attract investment for infrastructure modernization, according to official Turkmen media reports.
Collaborative efforts between government entities, private companies, and international organizations could help reduce gas prices, increase competition, and strengthen energy security.
Samantha Carl-Yoder, a policy director at Brownstein Hyatt Farber Schreck LLP, highlighted that Turkmenistan could also explore opportunities to enter European and Middle Eastern markets, where the demand for alternative energy resources is increasing. Given its strategic location, the country is well-positioned to expand its export potential and attract new investments into its energy sector.
Establishing joint projects with international companies will not only boost Turkmenistan’s economic growth but also ensure sustainable development and create new jobs, further strengthening its position in the global energy market.
OGT 2024 will run until October 25, 2024. The event’s program includes numerous thematic sessions covering key global oil and gas industry topics such as the energy transition, export route development, and environmental aspects of hydrocarbon production.
