Turkmenistan expands energy cooperation and transitions to renewable sources

The International Conference "Oil and Gas of Turkmenistan – 2024" began its second day, focusing on global trends in energy market development and opportunities for cooperation.

Key topics included the development of new and optimization of existing oil and gas fields, attraction of foreign investment, energy transition, innovation implementation, carbon emissions reduction, as well as the development of low-carbon fuels and underground gas storage technologies.

At the plenary session "New Trends in the Global Energy Market and Cooperation Prospects," Annageldi Saparov, Minister of Energy of Turkmenistan, delivered a report highlighting key areas of the ministry's work. He noted efforts to develop electricity supply, construct new power plants, expand electricity exports, and implement renewable energy sources.

Participants of the session emphasized the importance of creating new routes for energy trade and highlighted the need to address issues of energy security and environmental protection.

The minister highlighted the successful completion of projects such as the high-voltage power line Turkmenistan-Afghanistan-Pakistan and the expansion of a substation in Afghanistan. In the near future, a solar and wind power plant with a capacity of 10 megawatts will be commissioned, symbolizing the beginning of alternative energy implementation in the country. Moreover, a combined power plant is being constructed on the Caspian Sea coast, which will increase exports to Europe. In collaboration with the Asian Development Bank, work continues on creating a national ring energy system.

The Turkmen side emphasized the favorable investment climate created in the country to attract foreign investments, including tax incentives. Special attention was given to the role of the oil and gas industry in Turkmenistan's economy, which contributes to expanding the country's export opportunities.

The conference will continue its work until October 25, discussing a wide range of issues in thematic sessions, including prospects for Turkmen gas, the role of technological innovations in energy transition, as well as environmental aspects of hydrocarbon resource extraction.