Following the successful Turkmenistan Investment Forum (TIF 2024), which gathered over 400 international delegates from 46 countries, Ashgabat is preparing to host the XXIX Conference and EXPO “Oil and Gas of Turkmenistan - 2024” (OGT 2024).
The event will take place from October 23 to 25 and will serve as a pivotal platform to discuss current issues regarding the investment potential of the country’s oil and gas sector. The focus will be on expanding exports of Turkmen natural gas, progress on the Afghan section of the TAPI pipeline, new phases of developing the «Galkynysh» gas field, and attracting investments for the modernization of oil refineries and gas chemical projects.
Particular attention at the conference will be given to energy transition issues, the implementation of innovative technologies, best international practices in the oil and gas industry, and environmental aspects of hydrocarbon extraction. Specifically, the discussion will address reducing methane and carbon dioxide emissions. Among the event's partners are companies such as ADNOC, Çalik Enerji, CNPC, Yug-Neftegaz, Hyundai Engineering and Construction, and Schlumberger, as well as new players, including the ADNOC and the Chinese consortium Geo Jade Huineng.
New Partners of OGT 2024
ADNOC, the largest oil company in the UAE, is one of the few actively increasing oil production despite global pressure to reduce output due to climate change. In 2021, its production exceeded 4 million barrels per day, with plans to increase to 5 million barrels by 2030.
The Chinese consortium Geo Jade Huineng Petroleum, established in 2023, is actively involved in oil exploration, new energy sources, and finance. By the end of 2023, the company’s assets reached 230 billion yuan, with confirmed oil and gas reserves of 560 million tons and 178 billion cubic meters, respectively. It is one of the largest private oil companies in China.
Key Speakers and Topics at OGT 2024
Among the confirmed speakers for OGT 2024 are prominent experts such as Hou Qijun, President of CNPC; Daniel Yergin, Vice Chairman of S&P Global; Ariel Flores, Executive Vice President of Exploration and Production at BP; Dario Liguti, Director of the Sustainable Energy Division at the UN Economic Commission for Europe; and Manfredi Caltagirone, Head of the International Methane Emissions Observatory.
Moderators for the panel discussions will include Joseph Murphy, Editor of the globally recognized industry journal “Natural Gas World,” along with leading specialists such as Philipp Vorobyov and Eric Eiberg from S&P Global Platts Commodity Insights, and Kenyon C. Weaver, Senior Advisor on Energy Transition at the U.S. Department of Commerce.
The thematic sessions will address Turkmenistan's strategic role in the global energy landscape, the strengthening of energy infrastructure, and international cooperation. They will analyze current trends in the Turkmen gas and petrochemical market and discuss the potential use of methane in industry and financing energy projects.
A separate session of OGT 2024 will be dedicated to further developing the world’s largest onshore gas field, Galkynysh. Along with the «Yashlar» and «Garakel» fields, it has reserves of 27.4 trillion cubic meters. Recently, «Turkmengas» signed a framework agreement with Hyundai Engineering Co., Ltd. for the design and construction of gas processing facilities at this field.
Additionally, issues related to training specialized personnel, implementing energy-efficient technologies, and enhancing educational standards in Turkmenistan’s oil and gas sector will be addressed. One of the key topics will be evaluating export markets for Turkmen gas, including progress on the construction of TAPI and increasing swap gas supplies to Azerbaijan. Special attention will be given to the European Union's position regarding imports of Turkmen gas.
According to forecasts from S&P Global Platts, natural gas will play an essential role in the transition to a low-carbon future, reducing air pollution and greenhouse gas emissions by replacing coal and oil with natural gas. Turkmenistan's export of 30 billion cubic meters of gas to China is equivalent to 60 million tons of coal, positively impacting the region's climate.
The OGT 2024 conference aims to attract foreign investors to Turkmenistan’s energy projects, foster scientific research in the oil and gas sector, and strengthen international partnerships. The OGT Expo will showcase achievements in the global and Turkmen oil and gas industry, while new exhibition elements will emphasize the importance of international cooperation.
More than 150 delegates from 30 countries have already registered to participate. Registration is open until October 13. For more information, please visit the event's website: https://ogt-turkmenistan.com/en.
