Economy

Turkmenistan Invites UAE Companies to Conduct Joint Gas Field Development

ASHGABAT (Sputnik) - Turkmenistan's former president and incumbent upper house chairman, Gurbanguly Berdimuhamedow, has paid a visit to the UAE and invited the country's companies to jointly develop gas fields and build pipelines in the Central Asian nation, the Neytralny Turkmenistan state-run newspaper reported on Saturday.
Sputnik
"In this regard, partners and investors from the UAE (United Arab Emirates) are invited to participate in the realization of new energy projects related to the construction of gas pipeline infrastructure intended for supplying natural Turkmen gas to the region's countries and other countries," the newspaper quoted Berdimuhamedow as saying.
The head of Turkmenistan's supreme representative body and the chairman of Dragon Oil's board of directors, Saeed Mohammed Al Tayer, have held talks in Dubai, where Berdimuhamedow announced that the main goals of his country's energy sector are boosting oil and natural gas extraction and exporting Turkmen energy carriers and oil refining products.
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A memorandum of understanding was also signed between the Turkmengaz energy company and Abu Dhabi National Oil Company (ADNOC) intended for attracting new partners for development of the Galkynysh gas field and building gas pipeline infrastructure to export gas, the newspaper reported.
Meanwhile, the two countries are also exploring partnership and economic opportunities in the field of reduction of methane emissions into the atmosphere, the report said.
Turkmenistan is fourth in terms of natural gas reserves after Russia, Iran, and Qatar.
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