Exclusive interview on the threshold of the Paris TEIF 2024 Forum with Drew Powell, Regional Director of Gaffney, Cline & Associates on investment prospects in the energy sector of Turkmenistan.

"Gaffney, Cline & Associates is an international energy consulting company that provides technical and commercial advice to energy companies, financial institutions and government entities."

Mr. Powell, can you tell us about the main objectives of the upcoming Paris Forum in the context of investment opportunities in the energy sector of Turkmenistan?

The upcoming Paris Forum is of great importance for the stable development of the entire energy sector of Turkmenistan. This forum is a platform for the presentation of investment opportunities related to the energy sector of Turkmenistan, which is promoted by the State Concerns "Turkmennebit", "Turkmengas", "Turkmenhimiya" and the State Corporation "Turkmengeology". The forum will discuss the development prospects of various investment projects, their attractiveness and potential benefits for investors.

What specific projects and investment opportunities will be presented at the forum?

Within the framework of the forum, "Investment Teasers" will be presented by Turkmennebit SC, including information about projects on offshore blocks 11,12,16,21,23 and 24 in the Turkmen sector of the Caspian Sea with geological features and potential for the development of oil and gas resources. Turkmengaz, in turn, offers investment projects on further stages of development of the Galkynysh gas field, on optimization of production at mature fields and a project on underground gas storage.

The participants will also be presented projects from the State Concern "Turkmengeology" with investment opportunities for exploration and research of geological structures of the territory of Turkmenistan.

The State Concern "Turkmenhimiya" is participating in the forum with promising investment projects for the design and construction of various chemical plants, such as a plant for processing hydro-mineral raw materials from Garabogaz Bay, and a plant for the production of ammonia and urea in Balkan province and many others.

In your opinion, what development strategies and plans are being undertaken to ensure the long-term sustainability and effectiveness of these projects?

To ensure the long-term sustainability and efficiency of projects in Turkmenistan, comprehensive strategies are being applied. Modern technologies and innovative methods of oil and gas production and processing are being introduced to increase productivity and reduce costs. In addition, plans are being developed to improve infrastructure and logistics to ensure uninterrupted operation of production facilities.

In your opinion, what are the key investment advantages offered to investors considering participation in these projects?

Investors considering participation in these Turkmenistan projects can count on several attractive investment advantages. The resource potential and geological certainty of the fields provide stability and high potential for oil and gas production in the long term. Mutually beneficial cooperation also provides confidence in the protection of interests and support from the state. In addition, the strategic location and developed infrastructure of the region provide convenient conditions for exporting products to international markets. In addition, according to the amendments made to the Law of Turkmenistan "On Hydrocarbon Resources", companies that were previously allowed to produce only oil and gas under the terms of the Licenses in Turkmenistan, will now be able to process raw materials into petrochemicals and gas-chemical products, including liquefied gases under the fiscal terms of the Law and investors are guaranteed protection of their rights by the provisions of international treaties adopted by Turkmenistan.

Mr. Drew Powell, we thank you for your valuable and detailed answers on this important topic. On this note, we conclude our discussion full of optimism and hope for future cooperation and prosperity for both investors and Turkmenistan.

Mr. Drew Powell will participate in the upcoming TEIF 2024 Forum in Paris as a speaker at the third session, which is entitled: "Commodities for the Energy Transition: Emerging Trends and Investment Opportunities". Other speakers scheduled for this session include Ali Rashid Al Jarwan - CEO, Dragon Oil; Jamie Trinidad - Head of International Law Department, Albertson Solicitors; Fellow and Director of Studies in Law, Wolfson College, University of Cambridge; Julien Pouget - Senior Vice President, Middle East & North Africa Division, TotalEnergies Exploration & Production; Bart Wauterickx - Director, XP Upgreen and others.

The Forum will be held on April 24-25 in Paris. To date, more than 300 delegates from 31 countries have registered to participate in TEIF 2024. Registration for international delegates is open until April 19.

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