The first day of the 29th International Conference and Exhibition “Oil and Gas of Turkmenistan-2024” has come to an end. About 800 delegates from 51 countries are taking part In the forum. The organizers of the large-scale event are the state concerns Türkmengaz, Türkmennebit, the state corporation Türkmengeologiýa and the Chamber of Commerce and Industry of Turkmenistan.

As reported by TDH, the main goal of the event is to strengthen the regional dialogue on the further development of the energy sector, review the latest trends in the global energy system, and expand opportunities for attracting foreign investment in the oil and gas industry of Turkmenistan.

The large specialized forum is held not only in the traditional format, but is also broadcast online to dozens of countries around the world.

In the morning, the opening ceremony of the exhibition and conference “Oil and Gas of Turkmenistan – 2024” took place, which was attended by members of the Government, heads of industry departments, heads of diplomatic missions accredited in Turkmenistan and authoritative international organizations, specialists from well-known oil and gas business structures and financial institutions, leading experts of companies engaged in this field, representatives of public organizations, the media, foreign guests, etc.

The forum brought together hundreds of participants, including representatives of foreign companies, large international organizations and banks. Some of them joined the discussions on the digital system. The guests were familiarized with presentations dedicated to the formation of a strategy for the future of the international, regional and domestic fuel and energy industry, as well as with analytical review materials on the state of affairs in the world oil market, marketing strategies in this area.

The annual Industry review serves as a productive platform for the wide popularization of the achievements of the domestic fuel and energy complex, business communication between Turkmen and foreign specialists, leading manufacturers from Europe, Asia and America, establishing direct contacts, launching new projects, familiarization with global trends and prospects for the development of the industry.

About 70 exhibitors, including more than 40 foreign companies, placed their stands in the exhibition hall of the Chamber of Commerce and Industry of Turkmenistan. In particular, from Belgium, Great Britain, Germany, Georgia, the Republic of Kazakhstan, the People's Republic of China, the Republic of Korea, Malaysia, the United Arab Emirates, the Russian Federation, the United States of America, the Republic of Turkey, the Republic of Uzbekistan, France, Japan and others.

The International Conference «Oil and Gas of Turkmenistan – 2024» began its work in the afternoon. Such topical issues as global trends in the development of energy markets and cooperation opportunities, the development of existing and optimization of production at new oil and gas fields with the attraction of foreign investment, including for the development of offshore blocks of the Turkmen sector of the Caspian Sea, energy transition and the role of technological innovation and human capital, the use of low-carbon fuel in the energy transition, the reduction of methane and CO2 emissions, underground gas storage and geothermal energy were discussed.

As noted at the plenary session «New Trends in the Global Energy Market and Prospects for Mutually Beneficial Cooperation», the current forum allows us to assess the further development of energy diplomacy. The need to create new energy trade routes and market commodity cycles, revise priorities and resolve energy security and environmental issues was emphasized.

In their reports, representatives of Turkmenistan emphasized that the solution to the identified problems is directly related to building up partnerships with foreign companies – manufacturers of equipment for the oil and gas processing industry, investment organizations.

The Turkmen side also voiced proposals for further expansion of cooperation in this area, noting that the conditions created in the country, namely a favorable investment climate, tax incentives, etc., have become real prerequisites for attracting financial investments in the development of the extractive and processing industry of the fuel and energy complex.

A significant role in the implementation of large-scale programs for industrialization of the country on an innovative basis, expansion of its export opportunities is given to the leading sector of the national economy – the oil and gas industry.

The plenary session, including via videoconference, was attended by the UN Resident Coordinator in Turkmenistan Dmitry Shlapachenko, the Minister of Energy of Uzbekistan Jurabek Mirzamahmudov, the Chairman of the Board of JSC NC KazMunayGas (Kazakhstan) Askhat Khasenov, Senior Vice President for International Business, Gas and LNG of ADNOC (UAE) Abdullah Al Shamsi, Vice President of CNPC Zhang Daowei, Vice Chairman of S&P Global Commodity Insights Daniel Yergin, Executive Vice President for Exploration and Production of British Petroleum Ariel Flores and others.

In their reports, foreign guests emphasized that a constructive approach to issues of mutually beneficial partnership, creative initiatives of Turkmenistan to form a new architecture of global energy security are widely supported by the world community.

The conference will continue its work until October 25. A wide range of issues will be discussed at the thematic sessions “The Future of Turkmen Natural Gas: New Export Routes and Export Potential”, “Monetization of Natural Gas – a Key Low-Carbon Fuel in the Energy Transition”, “Energy Transition: the Role of Technological Innovations and Human Capital”, “Underground Gas Storage and Geothermal Energy: a Review of Best International Practices”, “Environmental Aspects in the Extraction of Hydrocarbon Resources: Focus on Reducing Methane and CO2 Emissions”.