Saudi Arabia considers the possibility of investments into Turkmenistan

Turkmenistan is of investment interest of the oil companies of Saudi Arabia, such as, Saudi Aramco which is interested to finance oil and gas projects worldwide. The Minister of Energy of Saudi Arabia Khalid al-Falikh told about it, it is reported on the website of the Financial One magazine with reference to Reuters.

"For leading companies of Saudi Arabia there are areas for investments in Turkmenistan", - Khalid al-Falikh in an interview to Al Arabiya TV channel told, calling Saudi Basic Industries Corp (SABIC), Ma'aden mining company and Saudi Aramco.

"Aramco considers any possibility of investments into production of oil and gas worldwide, including the countries having an entry in the Caspian Sea, and Turkmenistan as I already told owns the largest resources of minerals, in particular gas", - the minister added.

Speaking at a conference after the meeting with delegation of Turkmenistan - the largest exporting country of gas in Central Asia, al-Falikh told that memoranda of understanding would be signed, and the Fund of an industrial development of Saudi Arabia would provide a financial support.

He also added that "the Kingdom supports a construction of the TAPI gas pipeline which Turkmenistan builds in the territory of Afghanistan, Pakistan and India".

"Saudi Arabia will deliver the materials necessary for the project", al-Falikh, the part-Minister of Industry and minerals told. The minister also enters into the board of directors of the Aramco company.

"Knowledge sharing with Saudi Aramco on laying of bulk distribution lines will become one of areas of a cooperation about which we have negotiated with delegation of Turkmenistan today", - the minister told.

We will note that on November 8-9, 2017 in the capital of Saudi Arabia the fifth meeting of the intergovernmental Turkmen-Saudi commission on a trade and economic cooperation took place. Participants of the meeting in Riyadh discussed the priority directions of development of a business partnership taking into account implementation of the bilateral arrangements reached during the official visit of the president of Turkmenistan to Saudi Arabia in 2016.

 

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