TEIF 2025 Forum Participants Discuss Investment Opportunities in Turkmenistan’s Energy Sector on Day 2
14:25 24.04.2025 526
The second day of the International Forum on Attracting Foreign Investments into the Economy of Turkmenistan TEIF 2025 began in Kuala Lumpur, the capital of Malaysia, on April 24. A plenary session on “Investment Opportunities in Turkmenistan’s Energy Sector: Oil and Petrochemicals” was held in the morning.
This session is devoted to the broad investment opportunities in Turkmenistan’s energy sector, with a special focus on the oil and petrochemical industries. As noted, Turkmenistan’s strategic approach is aimed at using its significant hydrocarbon reserves to stimulate economic growth, diversification and integration into global markets.
A key element of this modernization is the phased reconstruction of oil refineries, aimed at increasing refining capacity, improving product quality and expanding export opportunities.
The main topics of the speeches were attracting investments in the development of oil blocks in the Turkmen sector of the Caspian Sea, innovative approaches in the exploration and production of hydrocarbon resources, analysis of the development and planned construction of modern petrochemical complexes, a review of Turkmenistan's legislation in the field of hydrocarbon resources, optimization of oil production at mature fields, innovations and challenges of modern geology, prospecting and exploration of ore and non-metallic minerals.
During this session, the following speakers spoke: Guvanch Agajanov, Chairman of the State Concern "Turkmennebit", Gurbangeldy Garlyev, Chairman of the State Corporation "Turkmengeology", Ismadi bin Ismail, Chief Executive Officer of PETRONAS Carigali (Turkmenistan) Sdn Bhd, Giorgio Castriota Skanderberg, Director of Eni Turkmenistan Limited, Stephen Travers, Regional Director of GaffneyClineTM energy advisory, Syed Saggaf Syed Ahmad, President of the Oil, Gas and Energy Services Council (MOGSC), Ahmed Radzif, General Director, EnQuest Southeast Asia, Anwarudin Saidu Mohamed, Chairman of the Kuala Lumpur Section of SPE.
Then the work of the forum continued with the 4th session on the topic "Promoting cooperation between the private sectors of Turkmenistan and Malaysia: development of industry and services".
This session is dedicated to the development of the industrial, textile and food sectors of the economy of Turkmenistan, with a special focus on increasing production and export opportunities. The session reviewed key investment opportunities and government initiatives aimed at expanding production capacity, import substitution and increasing the country's competitiveness in global markets.
Potential investors were provided with up-to-date information on strategies to promote growth in these sectors and strengthen Turkmenistan's export potential.
In addition, speakers touched upon other issues, including prospects for further development of the private sector of Turkmenistan as a driver of economic development; public-private partnership as a guarantee of favorable investment prospects; the growing export potential of the industrial, textile and food sectors of Turkmenistan. Strategies to improve exports to international markets were also discussed, including standardization according to ISO, API, DNV GL, CE Marking, TÜV, FDA and HALAL with the aim of positioning Turkmenistan as a competitive global supplier.
The International Scientific and Practical Conference was held at the IUOG
On April 19, at the International University of Oil and Gas named after Yagshigeldi Kakaev, an International scientific and practical conference was held on the topic “Scientific worldview of students in the Epoch of the Revival of a new era of powerful state”. In addition to the participants of the II Open International Olympiad in Informatics students of higher educational institutions of Turkmenistan and foreign countries, teachers and students of capital universities also took part in the event.
Serdar Berdimuhamedov assured Guterres of his intention to expand cooperation with the UN
The newly elected President of Turkmenistan Serdar Berdimuhamedov stressed that he intends to continue to implement the foreign policy pursued by our country to expand cooperation with the UN, the State News Agency of Turkmenistan reports.
The heads of Turkmenistan and Pakistan discussed further interstate dialogue
Commitment to relations of friendship and brotherhood with Pakistan was confirmed by the newly elected President of Turkmenistan Serdar Berdimuhamedov in a telephone conversation with President of Pakistan Arif Alvi, the State News Agency of Turkmenistan reported on Tuesday.
The heads of a number of foreign countries discussed with the leaders of Turkmenistan the prospects for interstate cooperation
Last Tuesday, the leaders of a number of foreign countries had telephone conversations with Turkmen leader Gurbanguly Berdimuhamedov and newly elected President of Turkmenistan Serdar Berdimuhamedov, the State News Agency of Turkmenistan reports. Among them are the leaders of Turkey, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Armenia, Pakistan and other countries.
Pakistan is preparing to start implementing the TAPI project after the second quarter of 2024
Pakistan, one of the four partners in the Turkmenistan-Afghanistan-Pakistan-India gas pipeline project, expects to receive final approval by the end of the second quarter of 2024 to begin construction. This was announced by Inter State Gas Systems, a company operating under the auspices of the petroleum division of the Ministry of Energy of Pakistan and engaged in the implementation of strategic infrastructure projects in the gas industry.