Azerbaijan sends high-ranking delegation to oil and gas forum in Ashgabat

The date of the international forum on attracting foreign investment in the oil and gas sector of Turkmenistan to be held on May 12-13, 2021 in Ashgabatcoincided with the 30th anniversary of the country’s independence, press release from the Turkmen Forum company, the co-organizer of the upcoming event.

The organizers are the State Concerns “Turkmengaz” and “Turkmenneft”, the State Corporation “Turkmengeologia”, as well as the Ministry of Finance and Economy of Turkmenistan in partnership with the “Turkmen Forum” holding company with the support of the British company GaffneyCline.

The aim of the business forum is attracting investments in the oil and gas sector of Turkmenistan, developing cooperation between state organizations of Turkmenistan and international partners.

The Forum will be attended by about 500 participants from 42 countries, representing more than 160 international oil and gas and investment companies, as well as leading experts from major international structures and financial institutions, including the World Bank, Asian Development Bank, ESCAP, International Energy Forum, CIS Executive Committee, Global Gas center, Forum of Gas Exporting Countries and many others.

A high-level delegation from Azerbaijan, including SOCAR President Rovnag Abdullayev and Deputy Minister of Economy of the country Rovshan Najaf, will personally take part in the Forum.

During the event, an overview of the investment opportunities of Turkmenistan in the oil and gas sector, the latest petrochemical projects and project opportunities will be presented. The world’s leading oil and gas companies will share their vision and experience.

Minister of Finance and Economy of Turkmenistan Muhammetgeldy Serdarov, Trade Representative of the Prime Minister of Great Britain in Turkmenistan Baroness Nicholson Winterbourne, Secretary General of the International Energy Forum (IEF) Joseph Mac – Monigle, Executive Secretary of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) Armida Salsia Alisjahbana.

The Forum will also discuss the role of financial institutions in supporting the global energy agenda; pipeline projects as a driving force for the transition to a low-carbon future; offshore fields of the Caspian Sea: development experience and new investment opportunities; investment projects in the monetization of hydrocarbons – a look into the future.

Within the framework of the Forum, a ceremony of signing important contracts and memorandums will also take place. Due to restrictions on international travel, the Forum will also be presented in an online format, which will provide foreign partners with access to all sessions, as well as to hold meetings with the leadership of the oil and gas and financial and economic complexes of Turkmenistan, the press release said.

On January 21, 2021, Azerbaijan and Turkmenistan signed an intergovernmental memorandum on the development of the Dostlug oil and gas field, which for many years was considered controversial between the countries.

In addition, since this year, Turkmenistan has decided to send part of its oil, which it previously delivered to world markets through the territory of Russia, through the pipelines of Azerbaijan. Oil and gas cooperation between Azerbaijan and Turkmenistan has been developing in all directions since 2020.

Caspian Barrel