Speaking at the International Oil and Gas Conference in Ashgabat, the Head of the OSCE Centre in Ashgabat, John MacGregor, informed of the OSCE commitments regarding cooperation, investment and sustainable development in the oil and gas industry of Turkmenistan.
According to MacGregor, to attract large investments in the oil and gas sector of Turkmenistan, there are numerous OSCE commitments related to these topics and other elements of economic and environmental security.
"The Government of Turkmenistan has been a trustful partner of the OSCE in implementing those commitments into practice," he said in this regard. – We all know that governments should provide specific protection to investors to ensure successful investments. Such protection, inter alia, includes effective legislation, adequate mechanisms for resolving disputes and other supporting instruments. "
The Head of the OSCE Centre noted that the relevant national legislation, including the "Law of Turkmenistan on Public-Private Partnership" and the "Law of Turkmenistan on Foreign Investments", provides for such effective regulatory and protective mechanisms for investors.
The OSCE Centre actively contributed to the revision of the "Law of Turkmenistan on Foreign Investments", increasing knowledge on the introduction of a single window, e-business and e-commerce, development of public-private partnerships to improve business investment climate and advancing of Small and Medium-Sized Enterprises regulatory framework.
Also, the OSCE Centre has been supporting Turkmenistan towards improvement and strengthening of the environmental protection system, emergency responses in the oil and gas sector, promoting renewable energy research, and national policies in the area of energy security and energy diplomacy.
The Centre has contributed to the development and implementation of a number of strategic documents, such as:
- the National Strategy for Development of Renewable Energy in Turkmenistan until 2030,
- the Program for Development of Energy Diplomacy of Turkmenistan for 2021-2025,
- the National Climate Change Strategy and the National Program for Energy Saving 2018-2024.
These documents determine the main direction of Turkmenistan’s policy for the gradual transition to an economy with lower greenhouse gas emissions values.
"In this respect, we have intensified our cooperation with Turkmenistan and in 2020, jointly opened the Centre of Energy Saving Technologies at Mary State Energy Institute," the diplomat noted.
With the participation of the OSCE, increasing knowledge of relevant officials on sustainable management in the oil and gas industry was organized, including:
- ecological preventative and innovative approaches,
- international experience in conducting statistics and verification methods of greenhouse gas emissions and removals in the gas industry,
- energy conservation, and
- explored ways in developing and integrating technological solutions for decarbonization of the oil and gas industry.
"I am convinced that today’s conference will provide a very constructive platform and offer new perspectives in tackling emerging opportunities and challenges in the oil and gas sector," MacGregor concluded.