Participants of Turkmen – Qatar business forum discuss new ways of cooperation in fuel and energy sphere

Members of Turkmen Government, leaders of ministries and departments, the Union of Industrialists and Entrepreneurs of Turkmenistan, representatives of government sector and largest Qatar companies take part in the meeting in St. Regis Hotel.

Cooperation in fuel and energy complex is the main subject of the forum. Potential hydrocarbon reserves of Turkmenistan make around 71 billion tons of oil equivalent where 53 billion are at onshore deposits and 18 billion tons in offshore fields.

The status of Turkmenistan as one of the leading energy countries (4th position in the world by natural gas reserves) was confirmed by the evaluation of Galkynysh Field reserves made by Gafney, Cline & Associates Company. According to independent audit, Galkynysh Field reserves together with Yashlar deposit are estimated in 26.2 trillion cubic meters of gas and taking into account Garakel Field explored at the same block, it makes 27.4 trillion of cubic meters.

There are more than 180 deposits and perspective oil and gas structures on the territory of Turkmenistan. The country is among main suppliers of natural gas to the Central Asia and has considerable potential for increase of the export.

The development of offshore fields of Turkmen sector of the Caspian Sea, which resources, according to the estimation of foreign and national experts, are approximately 12 billion tons of oil and 6.2 trillion cubic meters of gas, is one of the priority direction of drawing of direct foreign investments to the branch. At present moment, five offshore blocks are under development according to Production Share Agreement with foreign companies.

Along with gas supplies to China and Iran, our country also develops other export routes including European and Asian destinations. In this regard, the importance of construction of 1814 km Turkmenistan � Afghanistan � Pakistan � India gas main with 33 billion cubic meters per year output was mentioned.

Under formation of modern gas transport system of the country and development of new export routes of Turkmen gas, the construction of 800 km East � West gas line with 30 billion cubic meters of gas per year throughput capacity was accomplished in 2015.

Turkmenistan actively develops new directions in integrated processing of hydrocarbon resources mastering the production of chemicals and different polymer materials demanded in the world's market.

Several large investment projects including the third phase of development of Galkynysh Field, which is to feed TAPI gas main, stipulate to implement in nearest future, were named during the forum. The construction of new gas chemical complexes for production of linear polyethylene of low density, polypropylene, polyvinylchloride and other chemicals, GTL plant is also planned.

In this regard, Turkmen specialists made several proposals on cooperation under the Production Share Agreement on the basis of the Law of Turkmenistan on Hydrocarbon Resources, Service Agreement on field development and construction of gas chemical facilities as well as joint ventures for service and maintenance of oil and gas equipment, management of production processes and marketing of the production.

Bilateral meetings between the representatives of profile government and private structures are planned within Turkmen � Qatari business forum.

Source: Turkmenistan: the Golden Age Online Newspaper