CNPC – Gold Sponsor of the OGT 2021 International Investment Forum

CNPC – Gold Sponsor of the OGT 2021 International Investment Forum

CNPC has become a Gold Sponsor of Oil & Gas of Turkmenistan – 2021 International Investment Forum, which will be held on 12-13 May in Ashgabat.

The Forum will bring together key regulators and market players, financiers, scientists and experts to present unique ideas and analytical conclusions on topical areas of global trends in the development of fuel and energy sector and geopolitics.

The Chinese National Oil and Gas Corporation CNPC states its mission as follows: “Giving energy resources to society and creating wealth, CNPC makes its efforts to harmonious development of production and security, energy resources and environment. We promise to create ecological and energy-saving enterprise.”

There is a small inaccuracy in this statement: CNPC modestly promises to “create an ecological and energy-saving enterprise”, although it has been established long ago and successfully carries out its activities within the framework of once promulgated declaration.

CNPC has become a well-known complex energy corporation on a global scale, which is actively engaged in a variety of activities in the energy sphere in different regions of our planet.

This includes: exploration and development of oil and gas fields, oil refining and chemical industry, sale of oil products, storage and transportation of oil and gas, engineering and technical maintenance and production of oil and gas equipment.

CNPC ranks third in the list of the world’s 50 largest oil and gas companies, and fourth in the rating of “Top 500” companies in the world.

CNPC operates in oil industry in 38 countries. The petroleum materials and equipment manufactured by CNPC are sold in 82 countries and regions of the world.

On July 17, 2007, during the state visit of President of Turkmenistan Gurbanguly Berdimuhamedov to China, Production Sharing Agreement for the “Bagtyyarlyk” Contract Area and Natural Gas Purchase and Sale Contract between SC “Turkmengas” and CNPC were signed.

CNPC, according to these documents, will carry out full-scale work on research, development and production of natural gas in “Bagtyyarlyk” contract area for 35 years, as well as supply of natural gas to China by Turkmenistan-China gas pipeline.

On December 14, 2009, the opening ceremony of Turkmenistan-China pipeline took place with participation of the presidents of four countries – Turkmenistan, Uzbekistan, Kazakhstan and China.

The Chinese National Oil and Gas Corporation has invested in the development of the field in the “Bagtyyarlyk” contract area for 12 years.

In terms of reserves of natural resources, Turkmenistan is one of the richest countries in the world, and there is a steady upward trend in the demand for natural gas in China. Therefore, energy cooperation is mutually beneficial and very promising for both countries.

Currently, three lines of Turkmenistan-China pipeline are in operation, lines A, B and C, line D is planned for construction in near future. The total accumulating volume of natural gas exports over the 10 years since the launch of the Turkmenistan-China pipeline is about 296 billion cubic meters.

CNPC, being a responsible partner, pays great attention to the social component, in particular, to the development of the sport movement in Turkmenistan. The company sponsors all large-scale sport projects in Turkmenistan, including the World and Asian Championships. In addition, CNPC is a sponsor of Turkmen national hockey and football clubs, some sports federations and Paralympic organizations.

CNPC participates in the provision of vocational education for Turkmen youth in higher educational institutions of the PRC.