Secretary General of OPEC, Mohammad Barkindo, Hou Qijun – President of CNPC, participated in the Conference for the 1st time.
The plenary session of the Conference discussed the future of energy and the latest trends in the global energy markets.
When the future of global energy markets is discussed, 2 main concerns feature:
- one is climate change
- the other is the question whether the world has enough energy resources to fuel continued economic growth and industrialisation
The Conference continued with the session on onshore investment projects in Turkmenistan.
General Director of Turkmenbashi Complex of Oil Refineries (TKNPZ) Dovran Chishiyev spoke about the new projects in modernization of production facilities.
Turkmenistan at the TKNPZ carried out a phased modernization of production with the participation of leading technology developers, companies and capital from Germany, USA, France, Korea, Turkey, and Iran.
Turkmenistan is increasing production and export of natural gas.
According to the country's economic results for January-August 2021, Turkmen gas exporters achieved the highest performance in the reporting period, fulfilling the plan by 133.6%.
The panelists noted that one of the perspective directions for the subsequent development of Turkmen fuel & energy complex and attracting investments is active development of deposits of the Caspian Sea.
It was the key topic of the 2nd session «Invest in Turkmenistan: overview of offshoreinvestment projects in Turkmenistan».
On April, 2021 Malaysia's Petronas launched the GDDP-A (Garagol Deniz Drilling Platform) oil drilling platform in the Turkmen sector of the Caspian Sea.
A planned production rate the Garagol-Deniz West field is 6,700 barrels per day.
One of the largest Russian oil companies Tatneft also intend to take part in exploration in the offshore fields of the Turkmen sector of the Caspian Sea.
Azerbaijan and Turkmenistan signed a landmark agreement on exploration & development of hydrocarbon resources of the Dostluk field - a move that could pave the way for the transit of Turkmenistan's massive gas reserves to Europe.
It also opens up the prospect of a direct gas connection.
Experts from international financial institutions and bank structures discussed recent trends in the financing of investment projects during the 3rd session.
For the 1st time the international rating agency Fitch assigned Turkmenistan a long-term 'B +' rating.
Live link up was set up for Session 4: Natural Gas and Alternative Sources of Energy – Key Resources in Transition to a Low Carbon Future.
Participants were informed about the steps taken by Turkmenistan in transition to a low carbon economy.
Particularly, TKNPZ plans to build a hydrogen production unit.
A number of agreements, Memorandums and contracts were signed as a result of bilateral meetings between representatives of international organizations, oil & gas companies with the executive management of the oil & gas sector of Turkmenistan.
