The European Bank for Reconstruction and Development (EBRD) has emphasized the importance of diversifying Turkmenistan’s gas exports to maintain economic growth, Trend reports.
According to the bank’s outlook, the country is facing economic risks associated with its heavy reliance on China, which currently accounts for over 70% of Turkmen gas exports.
“A recently signed memorandum of understanding with Türkiye hints at potential access to European Union markets, while progress on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline could unlock opportunities in the expansive South Asian market,” the EBRD said.
A new law on energy saving and efficiency, introduced this year, is also expected to bolster the country’s energy resilience, the outlook noted. The legislation promotes the adoption of energy-efficient technologies, rational use of resources, and enhanced energy savings, laying the foundation for sustainable development in the energy sector.
Meanwhile, the EBRD projected Turkmenistan’s real GDP growth at a steady 6.3% for both 2024 and 2025, underpinned by investments in infrastructure, energy, and services. According to official data, the economy expanded by 6.3% year-on-year in the first seven months of 2024, driven by government-led initiatives and increased activity in the construction and services sectors.
