About the conference


The 29th “Oil & Gas of Turkmenistan - 2024” International Conference & EXPO

Dear delegates,

We are pleased to welcome you to the XXIX International Conference and Exhibition "Oil and Gas of Turkmenistan - 2024" (OGT 2024), which brings together leading national and international oil and gas companies, as well as experts and financial institutions that shape the future of the oil and gas industry both nationally and throughout the region.

The purpose of the Conference and Exhibition is to strengthen the dialogue on further sustainable development of the energy sector, review the latest trends in the global energy system, and expand opportunities for attracting foreign direct investment in the oil and gas industry of Turkmenistan.

In an epoch when the world is striving for a large-scale transition to new types of energy, Turkmenistan is changing too. The country can offer a wide field of activity for investors: from the development of one of the largest onshore gas fields, Galkynysh, to favorable natural and climatic conditions for the effective development of solar and wind energy. Turkmenistan’s rich resource potential will be the focus of OGT 2024, where leading energy companies of Turkmenistan will provide extensive opportunities for foreign investors in this strategically important area.

Turkmenistan is the largest player in the oil and gas market in Asia and currently ranks fourth in the world in proven natural gas reserves after Russia, Iran and Qatar.

Currently, the largest consumer of Turkmen natural gas is the People's Republic of China. Turkmenistan supplies China with more than 30 billion cubic meters of natural gas per year via three lines (A, B and C) of the Central Asian Gas Pipeline System, and after the completion of the fourth line D, the annual supply of Turkmen natural gas will reach the contracted 65 billion cubic meters. Turkmenistan also supplies gas to Uzbekistan and will soon begin supplies to Iraq.

Turkmenistan attaches great importance to the implementation of the construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline. On September 11, 2024, construction of the Serhetabat-Herat section began, which is a key stage in the implementation of the gas pipeline project with a total length of 1,853 km. The cross-border gas pipeline will deliver up to 33 billion cubic meters of natural gas from the Galkynysh field to three points of selection in Afghanistan, three points of selection in Pakistan and the final point of selection on the Pakistan-India border for supplies to the Indian market.

The Galkynysh field is the world's largest onshore natural gas field, with reserves estimated at 27.4 trillion cubic meters, together with the nearby Yashlar and Garakel deposits. Due to the large area and gas reserves at the field, a strategy for the phased development of the field has been adopted. In order to carefully use the country's natural resources, specialists from GaffneyCline and the Natural Gas Research Institute of the “Turkmengas” State Concern have developed a seven-stage plan for the development of the Galkynysh gas field, designed for decades to come. Each stage, in turn, is being developed in the context of specific projects with a focus on long-term cooperation and targeted use of gas. At present, three plants with a production capacity of 30 billion cubic meters of commercial gas per year are successfully operating. In order to ensure the planned volumes of supplies to China of an additional twenty-five billion cubic meters of gas per year, it is planned to commission the second stage of the Galkynysh field development. Currently, negotiations and agreement on the dates for the start of well drilling and the development of the second stage are at an active stage of clarifying the details of the contract. The third stage of development is designed to ensure the supply of 33 billion cubic meters of commercial gas per year under the TAPI international gas pipeline project.

In parallel with the export of natural gas, Turkmenistan pays special attention to its deep processing. In recent years, several gas chemical complexes have been commissioned, and several more are planned to be built in the near future in order to produce products with high added value that are in demand on world markets.


Turkmenistan is actively developing its fields on the Caspian shelf and onshore in the west of the country. A number of leading international oil companies, including ENI, Dragon Oil, Petronas and others, are engaged in oil and gas production at contract sites. The conference will highlight investment opportunities in offshore blocks 11, 12, 16, 21 and 23, and optimization of production at mature fields.

Among other strategic projects, gradually implemented by the oil and gas complex of Turkmenistan, are projects for the development of the Turkmenbashi complex of oil refineries and the Seydi oil refinery, aimed at introducing new technologies, improving the quality of manufactured products, increasing their competitiveness and compliance with advanced world standards.

When extracting hydrocarbons, Turkmenistan pays great attention to the environmental aspects of field development. As the Esteemed President of Turkmenistan Serdar Berdimuhamedov stated: "Turkmenistan sets an example in implementing important international initiatives for the development and rational use of natural resources, environmental protection and energy security at the regional and global levels."

Speaking at the COP28 climate summit in Dubai, the President of Turkmenistan announced Turkmenistan's accession to the Global Methane Commitment and further cooperation with international organizations and partner countries within the framework of existing projects and programs aimed at the practical implementation of the conditions arising from the Global Methane Commitment and is also actively developing the renewable energy sector.

Turkmenistan is actively developing the renewable energy sector. In March 2021, the Law of Turkmenistan "On Renewable Energy Sources" came into force, according to which innovative projects for the production of electricity are being developed, in particular, using alternative regenerative sources - sun and wind. An example of this is the project of a hybrid solar-wind power plant with a capacity of 10 megawatts, financed by the Abu Dhabi Fund for Development, the construction of which began in 2023 near Lake Altyn Asyr.


Dear friends!

• As you can see, in recent years Turkmenistan has come a long way in becoming a leading regional energy power. This is due to the political, economic and legal prerequisites created in our country thanks to the open-door policy, equal and mutually beneficial interstate relations successfully pursued by the Esteemed President of Turkmenistan. In accordance with the National Development Program of Turkmenistan, several major projects are planned to be implemented in the oil and gas complex of the country in the near future, such as:

• Implementation of the next stages of development of the Galkynysh gas field, which will supply natural gas to the TAPI gas pipeline and the ever-increasing needs of the domestic market and processing industry

• Construction of the Turkmenistan-Afghanistan-Pakistan-India gas pipeline

• Construction of gas processing plants

• Construction of an underground gas storage facility.

We also invite international investors to cooperate in the following areas:

• Participation in the development of hydrocarbon resources in licensed blocks of the Turkmen sector of the Caspian Sea;

• Investment projects to increase oil recovery;

• Investment projects in oil and gas chemistry;

• Service projects for the construction of industrial facilities.

Among the main factors in the growing attractiveness of Turkmenistan for foreign investors is the stable economic and political situation in the country, as well as the legislative framework and state guarantee.

The key aspect of creating a solid legal framework in Turkmenistan is the adoption of the Law of Turkmenistan "On Hydrocarbon Resources", "On Currency Regulation", "On Foreign Investments", "On Investment Activity", which are aimed at creating a favorable investment climate in the country, in order to attract long-term foreign investment and the state's guarantee of reliable legal protection of investments and their return. When developing comprehensive measures to stimulate investment in the near future, such fundamental principles of international cooperation as facilitating the country's entry into the world economic system through increasing its export potential and level of industrialization, developing technological processes, establishing a socially oriented market economy and raising the standard of living of the population were taken into account.


Dear delegates,

We are confident that OGT 2024 will further strengthen relations between Turkmen national and international oil and gas companies and will serve as a good platform for attracting foreign investment to the country. We wish you fruitful and successful work within the framework of this International Conference!

 

Welcome to Turkmenistan!

OGT 2024 Organizing Committee