An extraordinary EU Energy Council will be held in Brussels on Friday to discuss high prices in the energy market and issues of security of energy supply to the EU countries, according to a communiqué published in Brussels.

Li Hui, Special Representative of the PRC Government for Eurasian Affairs, who is visiting our country, discussed with the leadership of Turkmenistan the possibilities for further expansion of bilateral ties in the field of energy, transport, logistics and other areas, the State News Agency of Turkmenistan reports.

The Closed Joint-Stock Company «Turkmen Investment Company», established in accordance with world practice by the State Bank for Foreign Economic Affairs of Turkmenistan together with the Abu Dhabi Development Fund of the United Arab Emirates, invites entrepreneurs of Turkmenistan to cooperate. This was reported on the pages of the newspaper «Neutral Turkmenistan».

On Monday, September 5, at the auction of the State Commodity and Raw Materials Exchange of Turkmenistan, 5 transactions were concluded for a total of $16.9 million, ORIENT reports.

Russian Gazprom has begun designing a new gas pipeline to China along the Far East route and signed an addendum to the Gas Purchase and Sale Agreement with CNPC, which allows mutual settlements in yuan or rubles. This was reported on the official website of Gazprom.

The US Embassy in Turkmenistan invites representatives of the Turkmen side to take part in the International Oil and Gas Exhibition and Conference (ADIPEC-2022). The forum will be held in Abu Dhabi, UAE from October 31 to November 3, 2022. This was reported on the website of the Union of Industrialists and Entrepreneurs of Turkmenistan (tstb.gov.tm).

Azerbaijan will support the implementation of the Trans-Caspian gas pipeline if the Turkmen authorities decide to build it, but Baku will not initiate the project, President Ilham Aliyev said, Interfax reports.

Turkmenistan ranks 7th in the world ranking of countries with the cheapest automotive fuel. This is evidenced by the data of the report on motor fuel prices in the world, published on August 29 by the online edition GlobalPetrolPrices.

From August 31 to September 2, the Tatarstan PetroChemical Forum – 2022 (TNF – 2022) was held at the Kazan Expo International Exhibition Center from August 31 to September 2, in which more than two thousand delegates took part. From Turkmenistan, the forum was attended by representatives of the State Concerns «Turkmengas» and «Turkmennebit», the State Corporation «Turkmengeology». This is reported by the website of the Consulate General of Turkmenistan in Kazan.

The spot price of gas in Europe is growing by 30%, to almost $2,900/ths. Cube m due to the ongoing shutdown of Nord Stream, Interfax reports today.

At the auction of the State Commodity and Raw Materials Exchange of Turkmenistan, held on August 30, 13 transactions were concluded for a total of $17.7 million and 1.6 million Turkmen manats, ORIENT reports.

Gazprom has decided to create a gas transmission system with an operating pressure of 150 atmospheres (14.8 MPa). According to Interfax on Friday, Oleg Aksyutin, deputy chairman of the board of the company, said this at the Gazprom Supplier Day during the Tatarstan Petrochemical Forum.

The introduction of a price limit for Russian gas in Europe may be negatively perceived by other suppliers, they are unlikely to want to reduce the cost of supplies when the price ceiling is set, Maria Belova, research director at Vygon Consulting, shared her opinion with RIA Novosti.

Oil prices ended August with a decline and continue to fall on the first day of September.

The OPEC+ Technical Monitoring Committee has lowered its forecast for an oversupply in the market by the end of this year to 400,000 barrels per day from 900,000 earlier, Reuters reported, citing sources in the alliance, Prime reports.