From October 23 to 25, Ashgabat will host the 29th International Conference and Exhibition «Oil and Gas of Turkmenistan — 2024» (OGT 2024). The event is organized by the State Concerns «Turkmengas» and «Turkmennebit», the Chamber of Commerce and Industry of Turkmenistan, and the State Corporation «Turkmengeology».

The conference will bring together more than 830 delegates from 51 countries, providing a platform to discuss key issues and prospects for the development of the oil and gas industry.

OGT 2024 will unite leading national and international oil and gas companies, as well as experts and financial institutions, shaping the future of the oil and gas industry both in the country and the region.

According to the organizers, the goal of the conference and exhibition is to strengthen dialogue on the sustainable development of the energy sector, review the latest trends in the global energy system, and expand opportunities to attract foreign direct investment in Turkmenistan's oil and gas sector.

Turkmenistan offers a vast field of opportunities for investors, from the development of one of the largest onshore gas field «Galkynysh» to favorable natural and climatic conditions for the effective development of solar and wind energy.

The rich resource potential of Turkmenistan will be at the center of attention at OGT 2024, where leading energy companies from Turkmenistan will provide extensive opportunities for foreign investors in this strategically important field.

Turkmenistan is a major player in the Asian oil and gas market, ranking fourth in the world for proven natural gas reserves, after Russia, Iran, and Qatar. Currently, the largest consumer of Turkmen natural gas is China. Turkmenistan also supplies gas to Uzbekistan and will soon begin deliveries to Iraq.

Turkmenistan places significant importance on the implementation of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline. On September 11, 2024, construction began on the Serhetabat-Herat section, which is a key stage in the implementation of the TAPI pipeline project.

Alongside natural gas exports, Turkmenistan pays special attention to its deep processing. In recent years, several gas chemical complexes have been commissioned, and several more are planned for construction to produce high-value products that are in demand in global markets.

Turkmenistan is actively developing its offshore Caspian Sea fields and onshore deposits in the western part of the country. Leading international companies, including ENI, Dragon Oil, Petronas, and others, are involved in oil and gas extraction at contractual sites. The conference will highlight investment opportunities in several new offshore blocks, as well as optimization of production at mature fields.

Among other strategic projects being implemented by Turkmenistan’s oil and gas complex are the development projects for the Turkmenbashi and Seydi oil refineries. These are aimed at introducing new technologies, improving product quality, enhancing competitiveness, and ensuring compliance with advanced global standards.

Key factors contributing to the growing attractiveness of Turkmenistan for foreign investors include the stable economic and political situation in the country, as well as the legislative framework and state guarantees.

The upcoming forum will contribute to further strengthening relationships between Turkmen national and international oil and gas companies and will serve as a good platform for attracting foreign investment to the country.