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Within the framework of the plenary session of the international forum "Oil and Gas of Turkmenistan-2021", Igor Makarov, President of the International Group of Companies "Areti", spoke about current trends in financing investment projects.
In particular, he noted that the experience and competencies accumulated over the past decades in the field of investment process management allow state bodies and state-owned companies-subsoil users to play a much more active and significant role in the implementation of projects.
According to Makarov, modern Turkmenistan is of great interest to world investment institutions as a major regional power with huge reserves of hydrocarbons, developed infrastructure and a consistent state policy of modernization and economic development.
“Our company, in partnership with Turkmen state-owned enterprises, is making significant efforts to develop the marketing of Turkmen hydrocarbons in target favorable markets. We are also actively involved in joint work with our Turkmen partners on the creation and structuring of investment projects both in the field of production and development of fields, such as the giant “Galkynysh” gas field and the “Uzynada” oil field, and in the modernization and development of transport infrastructure for the oil and gas industry of Turkmenistan”, Makarov said.
Areti's approach to organizing investments in these areas is that for each such project (most of which are high-tech and capital-intensive), a combination of the following elements is required:
- Syndication of financial resources from various sources (specialized energy companies, financial institutions, sovereign, international and regional investment funds, traders' funds);
- Creation of a separate project company for individual project (with the participation of representatives of the Turkmen side), or allocation of the project into a separate one with and distinct business-line in the structure of the Turkmen partners;
- Creation of a transparent and comprehensible mechanism for investment and control over the targeted use of funds for international investors;
- Application of all guarantees and benefits provided for by Turkmen and international legislation;
- Involvement of professional Turkmen and international contractors with the state of the art technologies and solid track record.
“We are confident that the consistent policy of the Turkmen state to modernize and develop the economy, coupled with the active efforts of interested investors, will continue to bring positive results for all participants in the investment process,” concluded the President of IGC “Areti”.
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