Turkmenistan, strategically located between East and West, boasts rich hydrocarbon reserves and significant potential for renewable energy sources. To strengthen its economy and actively participate in the energy transition, Turkmenistan has a crucial opportunity to accelerate recent successes in reducing emissions from flaring and methane leaks. In the short term, gas losses can be significantly reduced and monetized, whether for domestic consumption, export, or electricity generation, bringing substantial environmental benefits. In the long term, Turkmenistan can lead energy transition initiatives, including exporting electricity to Europe or neighboring countries via cable, monetizing sulfur, becoming a regional hub for carbon capture and storage technologies, expanding wind and solar energy use, and developing export industries related to green hydrogen and other environmentally friendly products.

Recent studies by Capterio and Kayrros highlight encouraging progress in recent months. As COP29 in Baku approaches, it is time not only to evaluate these achievements but also to celebrate successes. Consider the case of flaring: more than 80 flares burn 1.3 billion cubic meters of gas annually (according to the World Bank). The Capterio FlareIntel Pro technology platform, which tracks flare operations at each site daily, is a powerful tool that helps improve transparency, enhance operational excellence, and prioritize investment opportunities. Progress is visible at the Darvaza crater (first highlighted by Capterio in April), where, thanks to leadership and recent initiatives by Turkmengaz, gas flaring has significantly decreased compared to last year. Capterio's satellite data confirms that flaring at Darvaza has dropped by about 1 million standard cubic feet per day. This recovered gas can enhance regional gas supplies and provide several megawatts of electricity while reducing CO2 and methane emissions. Looking ahead, there are opportunities for flare gas capture projects, especially important for operators supporting the World Bank’s "Zero Routine Flaring" program by 2030.

Now, consider methane, which is released from unlit flares, incomplete combustion, venting, and leaks. Since methane is an extremely potent greenhouse gas, reducing it is crucial for the climate. The International Energy Agency's Global Methane Tracker estimates that methane emissions from venting and leaks amount to 5 million tons per year (7.5 billion cubic meters/year), equivalent to 150–420 million tons of CO2-equivalent emissions annually.

A recent Kayrros report notes that Turkmenistan is one of the few countries that has managed to reduce its emissions (by about 10%) since signing the Global Methane Pledge three years ago. There are clear opportunities to accelerate this progress, including through the UN’s International Methane Emissions Observatory (IMEO) program. Unlit flares and vents should be prioritized for short-term action, as burning methane to produce CO2 is much less harmful to the climate than releasing methane itself. This will become even more important as the EU introduces methane standards for imported gas, and emissions reductions can be monetized through international carbon markets.

Kayrros' report data show progress (or lack thereof) by country. Significant emission reductions are only observed in Turkmenistan and Australia.

As the world accelerates its efforts to combat climate change, Turkmenistan is becoming an inspiring example. With COP29 being held in this region, it is a fitting time to acknowledge recent progress. These achievements reflect the leadership and commitment of national leaders, international partners, and operators on the ground.

It is worth noting that Session 6 at OGT 2024 will focus on "Environmental Aspects in Hydrocarbon Production: Emphasis on Reducing Methane and CO2 Emissions." Key topics related to Turkmenistan's hydrocarbon resources, as well as strategies to reduce methane and carbon dioxide emissions, will be discussed during the session. The focus will be on the importance of sustainable development and environmental responsibility in the energy sector.

The main themes of the session also include Turkmenistan's commitment to sustainable development goals and preparations for COP29 in Baku.

More than 800 delegates from 51 countries will participate in OGT 2024. For more information about the upcoming conference, visit the official event website: https://ogt-turkmenistan.com/