28 April 2023
The International Forum on Investment Attraction to the Energy Sector of Turkmenistan took place on April 26-27, in Dubai, UAE at the Hyatt Regency Hotel.
The main organizers of the event were Türkmengaz and Türkmennebit State Concerns alongside the Türkmengeologiýa State Corporation and the British company GaffneyCline. The main objective of the event was to attract investments more actively in the oil and gas sector of the country, to establish and promote fruitful cooperation with leading foreign companies, and to introduce the latest scientific achievements into production.
Dr Jan Haizmann, an Advisory Board Member of Brussels Energy Club, was a speaker at the session devoted to accelerating Turkmenistan’s drive to monetize new energy resources. He spoke about Turkmenistan's energy economy and the role of Turkmen gas. Turkmenistan's hydrocarbon production and exports have boosted the economy, leading to a large current account surplus and 6.2% economic growth in 2022. Although 90% of exports are hydrocarbons, the government is looking to diversify gas exports to new buyers. The government aims to increase oil and gas production and exports, but the evolving climate change agenda poses challenges for hydrocarbon-rich Turkmenistan. To reduce fossil fuel emissions, the government has prioritized improving energy efficiency, developing renewable energy, and promoting technological advances. The country faces the key question of how to incentivize green investment, as more stringent environmental controls are expected to be imposed.
Over 300 delegates attended the event, including representatives from major companies such as PETRONAS, Dragon Oil, Siemens Energy, Total Energies, CNPC, and ADNOC.