CNPC – Platinum Partner of the International Investment Forum «Oil and Gas of Turkmenistan» (OGT-2022)

18:2228.03.2022
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CNPC – Platinum Partner of the International Investment Forum «Oil and Gas of Turkmenistan» (OGT-2022)
Photo: ogt-turkmenistan.com

China National Petroleum Corporation CNPC, one of China's biggest three national oil companies has become a Platinum Partner of the International Investment Forum «Oil and Gas of Turkmenistan» (OGT-2022), which will be held on March 29-30 in Ashgabat and Turkmenistan’s pavilion at World Expo in Dubai.

Being the largest integrated energy groups in the world, the Chinese National Petroleum Corporation states its mission as «Giving energy resources to society and creating wealth. CNPC makes its efforts to harmonious development of production and security, energy resources and environment. We promise to create ecological and energy-saving enterprise».

There is a small inaccuracy in this statement: CNPC modestly promises to «create an ecological and energy-saving enterprise», although it has been established long ago and successfully carries out its activities within the framework of once promulgated declaration.

CNPC has become a widely known complex energy corporation on a global scale, actively engaged in a variety of activities in the energy sphere. Particularly, the company focuses on exploration and development of oil and gas fields, oil refining and chemical industry, sale of oil products, storage and transportation of oil and gas, engineering and technical maintenance and production of oil and gas equipment. The Corporation ranks third in the list of the world's 50 largest oil and gas companies, and fourth in the rating of «Top 500» companies in the world.

The Chinese National Oil and Gas Corporation operates in oil industry in 38 countries, while petroleum materials and equipment manufactured by the company are sold in 82 countries and regions of the world.

On July 17, 2007, SC «Turkmengas» and CNPC signed Production Sharing Agreement for the «Bagtyyarlyk» Contract Area and Natural Gas Purchase and Sale Contract. According to these documents, the Chinese Corporation will carry out full-scale work on research, development and production of natural gas in «Bagtyyarlyk» contract area for 35 years, as well as supply of natural gas to China by Turkmenistan-China gas pipeline, the opening ceremony of which took place in 2009.

The Chinese National Petroleum Corporation invested over 8 billion US dollars in the development of the field in the «Bagtyyarlyk» contract area for 13 years. Turkmenistan is one of the richest countries in the world in terms of reserves of natural resources. There is a steady trend in the demand for natural gas in China, energy cooperation being mutually beneficial and extremely promising for both countries.

Three lines of Turkmenistan-China pipeline are in operation now, lines A, B and C, line D is planned for construction in near future. The total accumulating volume of natural gas exports since the launch of the Turkmenistan-China pipeline is about 330 billion cubic meters.

State Concern «Turkmengas» and Chinese company CNPC Chuanqing Drilling Engineering will sign additional financing agreements for previous service contracts, covering more than $106.2 million worth of work.

Moreover, CNPC pays great attention to the social component, in particular, to the development of the sport movement in Turkmenistan. The company has sponsored large-scale sport projects in Turkmenistan, including the World and Asian Championships, participates in the provision of vocational education for Turkmen youth in higher educational institutions of the PRC.

Notably, in 2020, China launched a roadmap for the country's energy sector to reach carbon peak targets by 2030 and carbon neutrality by 2060. The roadmap considers gas-fired electricity as the most realistic solution to the problem of intermittent renewables.

CNPC, as one of the largest integrated energy groups in the world, is committed to the harmonious development of production and security, energy resources and the environment. Committed to being an environmentally friendly and energy-saving enterprise. Promotes the development and use of clean energy and green products. Makes efforts to protect the environment and rational use of resources and will continue to fulfill its obligations to protect the environment.

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