Cooperation in the energy industry sphere is among principal themes of the Turkmen-Qatar business forum

On the eve of the state visit of the President of Turkmenistan to the State of Qatar, in Doha the Turkmen-Qatar business forum took place on March 14. There new approaches on strengthening of trade and economic relations and business contacts were discussed. Members of the government, heads of the ministries and industry departments, the Union of Industrialists and Entrepreneurs of Turkmenistan, representatives of government institutions and the largest companies of the friendly country participated in the meeting which took place in St.Regis Doha hotel.

As the vice-chairman of Chamber of Commerce and Industry of Qatar Mohammad bin Ahmed bin Tovar al-Kuvari emphasized at the opening of the meeting, "the current state visit of the President of Turkmenistan confirms the aspiration of two countries to develop the fruitful relations in all spheres". Having noted value of the agreements reached during summit talks in Ashgabat in March of last year he declared that businessmen of Qatar looked for new opportunities of investment into economy of Turkmenistan which had huge potential in the sphere of natural resources.

One of the central themes of the forum was a cooperation in the field of energy industry, and it was not accidental. Potential inventories of hydrocarbons of Turkmenistan constitute about 71 billion tons of oil equivalent from which 53 billion tons are the share of overland fields, and 18 billion tons - of sea blocks.

Assessment of resources of the Galkynysh field which is carried out by the company "Gafney&Cline&Associates"  confirmed to the status of Turkmenistan as one of the leading energy countries of the world. According to substantive audit reserves of the field Galkynysh in total with the field Yashlar are estimated at 26,2 trillion cubic meters of gas today, and taking into account the field Garakel found in this block - to 27,4 trillion cubic meters.

Now in the territory of Turkmenistan more than 180 fields and perspective oil and gas of structures have been found. The country is among prime vendors of natural gas in Central Asia, and has the potential for increase in its export.

Among the priority directions there is attraction of direct foreign investments in an industry to develope of sea blocks of the Turkmen sector of the Caspian Sea which potential resources, according to assessment of national and foreign experts, constitute about 12 billion tons of oil and 6,2 trillion cubic meters of gas. Now 5 sea blocks on the terms of agreement about the section of products concluded with the foreign companies have been developed.

Along with supply of gas to China and Iran, Turkmenistan also develops new routes of export, including the European and Asian directions. In this context value of a construction of the gas pipeline by the Turkmenistan-Afghanistan-Pakistan-India (TAPI) with a general extent of 1814 km and design capacity 33 billion cubic meters a year was noted.

For the purpose of creation of a modern gas-transport system of the country and development of new routes of export of the Turkmen natural gas, in 2015 the construction of the East-West gas pipeline by handling capacity of 30 billion cubic meters of gas a year and about 800 kilometers long has been finished.

In Turkmenistan new directions of complex conversion of hydrocarbon resources also actively develop, production of the chemical goods and various polymers demanded in the world market has been arranged.

At a forum several large investment projects, including the 3rd stage of arrangement of the gas field Galkynysh provided to implementation in the short term which will provide the TAPI gas pipeline were called. Also, the construction of two gas-chemical complexes on production of linear polyethylene of low density, polypropylene, polyvinyl-chloride and other chemical products from natural gas, the plant on production of liquid oil products from natural gas (GTL) was planned.

In this regard the Turkmen specialists stated a number of offers on a cooperation, within them are Agreements on the section of products on the basis of the current law "About hydrocarbon resources", the Service contract on projects of arrangement of fields and a construction of gas-chemical productions, and also joint businesses – for servicing and repair of the oil and gas equipment, an industrial process control and marketing of products.

Within the Turkmen-Qatar business forum a row bilateral meetings between representatives of profile government and private institutions were carried out.

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