UAEBusiness

Turkmenistan invites UAE companies to join its international energy projects

Turkmenistan invites companies from the UAE to take an active part in its international energy projects, Trend reports.

According to an official source, this was stated by the Chairman of the People’s Council of Turkmenistan, Gurbanguly Berdimuhamedov, during a meeting with UAE Minister of Economy Abdullah bin Touq Al Marri in Ashgabat.

Berdimuhamedov stated during the meeting that, considering Turkmenistan’s vast reserves of natural resources, the country aims to expand partnerships in the oil and gas sector.

He invited Emirati business circles to actively participate in internationally significant projects currently underway in Turkmenistan.

Simultaneously, both parties noted the implementation of transformative programs in Turkmenistan, including the development of gas fields, the construction of vital energy facilities,and modern industrial enterprises.

All this opens up wide opportunities for strengthening business cooperation, the Chairman of the People’s Council continued, confirming the readiness of the Turkmen side to consider the proposals of the Emirati partners.

Furthermore, the parties noted the effective nature of business contacts with the Abu Dhabi National Oil Company (ADNOC), with which a Memorandum of Understanding was signed on cooperation in the development of the third stage of the largest Galkynysh gas field in Turkmenistan, which is the main source of supplies through the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline.

Meanwhile, in January of this year, the Turkmengaz State Concern and ADNOC signed a Memorandum of Understanding in order to attract strategic partners for the development of the third stage of the Galkynysh gas field and their possible participation in the implementation of energy projects related to the construction of gas pipeline infrastructure for natural gas supplies to the countries of the region and other states.

ADNOC is the national oil company of Abu Dhabi, UAE, which controls 95 percent of the UAE’s hydrocarbon reserves and ranks 6th in the world in terms of oil reserves and 7th in terms of natural gas reserves.

Subsidiaries of the parent firm are involved in petroleum product marketing and distribution, refining and finance, and exploration and production.

Source: trend.az

Image:daryo

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