Turkiye and Turkmenistan Sign Agreements in Natural Gas and Hydrocarbon Sectors

In a significant development, Turkiye and Turkmenistan have inked agreements in the realms of natural gas and hydrocarbons, marking a pivotal moment in their bilateral relations. The Memorandum of Understanding (MoU) in the natural gas sector and a Declaration of Intent in the hydrocarbon sector were formalized during a meeting between Turkish President Recep Tayyip Erdoğan and Gurbanguly Berdimuhammedov, the President of the People’s Council of Turkmenistan, as part of the Antalya Diplomacy Forum.

Energy and Natural Resources Minister Alparslan Bayraktar, who accompanied President Erdoğan during the discussions, made the announcement via his official social media account, shedding light on the significant progress achieved through diplomatic channels.

“In the course of the meeting, we have signed a Memorandum of Understanding that will accelerate collaboration between the two countries in the field of natural gas, along with a Declaration of Intent that will lay the foundation for partnerships in the hydrocarbon sector. With these signatures, our aim is to facilitate the transportation of Turkmen gas to Turkey initially, and subsequently to global markets,” Minister Bayraktar stated.

The agreements are poised to strengthen the energy cooperation between Turkiye and Turkmenistan, paving the way for increased collaboration in the exploitation and trade of natural resources. Minister Bayraktar emphasized the strategic importance of these agreements, envisioning a trajectory that extends beyond regional cooperation to encompass global energy markets.

The signing of these agreements aligns with both countries’ shared commitment to enhancing economic ties and fostering mutual development. As Turkiye continues to diversify its energy sources, the collaboration with Turkmenistan is anticipated to play a pivotal role in ensuring a stable and sustainable energy supply.

The agreements are expected to set the stage for a new era of economic cooperation, creating opportunities for joint ventures and investments in the energy sector. The prospect of Turkmen gas reaching global markets not only reinforces the energy security of the involved nations but also contributes to the broader dynamics of international energy trade.

The diplomatic efforts undertaken during the Antalya Diplomacy Forum have thus culminated in tangible outcomes, further solidifying the ties between Turkiye and Turkmenistan in the crucial domains of natural gas and hydrocarbons. As the signed agreements take effect, the collaborative endeavors are anticipated to have a lasting impact on the energy landscape of the region and beyond.

source: aa.com.tr/prepared by Melisa Beğiç

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