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President Berdimuhamedov, speaking at an extended meeting of the country's Cabinet of Ministers on Friday, called the development of the oil and gas industry and innovations in the processing of hydrocarbons the main directions of Turkmenistan's economic growth.

The growth of the country's economic potential through the intensive development of industries, digitalization, and diversification of the economic complex, ensuring the progressive dynamics of GDP by at least 6%, the establishment of market mechanisms - these are the main directions outlined by President Gurbanguly Berdimuhamedov.

The state concern "Turkmenneft" will receive more than 250 million manats for diversification and expansion of its capacities. President Gurbanguly Berdimuhamedov signed a resolution on lending to the oil concern during a working meeting on Monday.

Last week, eleven tenders were announced in Turkmenistan from the Ministry of Industry, SC "Turkmengas", SC "Turkmenhimiya", Turkmenbashy Complex of Oil Refineries, State Committee of Water Recourses, Hazar Consortium, "Tatneft", Chuanqing Drilling Engineering Company.

Turkish Minister of Energy and Natural Resources Fatih Donmez said that increasing the capacity of the Trans-Anatolian Gas Pipeline (TANAP) is on the agenda. “We support the increase in capacity as a country. There are similar requirements from Europe. We hope that new capacity will be provided to Europe through TANAP.”

EU countries are interested in increasing natural gas imports through the Southern Gas Corridor (YGC) to prevent further jumps in blue fuel prices in the European market.

Gross domestic product growth in Turkmenistan in January this year was 6.2%.

Turkmenistan will take part in the 8th ministerial meeting of the Southern Gas Corridor Advisory Council, which will be held on Friday, February 4 in Baku.

The Turkmen delegation took part in the 11th meeting of the Transport Ministers of the Organization for Economic Co-operation and Development (OEC). The meeting was held in online format on Wednesday and was dedicated to the topic of simplifying transit procedures in the post-pandemic period.

Last week, 17 tenders were announced in Turkmenistan from the Ministry of Agriculture, the Ministry of Health, SC “Turkmennebit”, SC “Turkmenhimiya”, State Service “Turkmenstandardlary”, TKNPZ, State Bank for Foreign Economic Affairs of Turkmenistan, SCBT “Turkmenistan” and JSCBT “Turkmenbashy”, JSCBT “Halkbank”, SCBT “Dayhanbank”, Turkmen-Turkish Joint-Stock Commercial Bank, Hazar Consortium and Tatneft.