Turkmenistan Strengthens Its Position in the Global Energy Market: New Export Routes
As part of the international conference "Oil and Gas of Turkmenistan - 2024", Deputy Chairman of the State Concern "Turkmengaz" Murad Archayev presented key initiatives and achievements in the field of natural gas. He spoke at the session "The Future of Turkmen Natural Gas: New Export Routes and Export Potential".
Archayev noted the importance of the Galkynysh field, which is the second largest in the world in terms of its size and is a strategic resource for the country. The speaker focused on the growing demand for natural gas, which, according to forecasts from the International Energy Agency, will grow by 20% by 2030 and by 30% by 2040.
He announced plans to develop the Galkynysh field and cooperate with major oil and gas companies to increase export potential. Archayev recalled that the Mutual Cooperation Agreement signed on March 1, 2024 between the “Turkmengaz” State Concern and the Ministry of Energy and Natural Resources of the Republic of Turkey is aimed at supplying Turkmen natural gas to Turkey and transiting it to world markets.
The main objective of the Agreement of Understanding signed on August 28, 2024 between the “Turkmengaz” State Concern and the National Gas Company of Iran is to expand cooperation in the supply of Turkmen natural gas.
In accordance with the signed documents, it is planned to increase the export and diversification of Turkmen natural gas. It is expected that 40 billion cubic meters of natural gas will be supplied to the Islamic Republic of Iran and transited under the SWAP terms to the Republic of Iraq, as well as in the southern direction to the Republic of Turkey and European countries.
Archayev also announced the launch of the Serhetabat-Herat gas pipeline, which will be part of the TAPI project linking Turkmenistan, Afghanistan, Pakistan and India. This project will contribute to the economic development of the region and the creation of jobs. Earlier, the construction of a 214-kilometer section of the gas pipeline passing through the territory of Turkmenistan was completed.
In addition, the intention to modernize the country's oil and gas complex was announced, taking into account environmental standards, including reducing methane emissions and developing renewable energy sources.
The speaker invited international companies and financial institutions to participate in the implementation of new gas projects in Turkmenistan, noting reliable legal protection for investors.
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