Turkmenistan, Uzbekistan Pledge Game-Changing Energy, Power Cooperation
The love affair between Turkmenistan and Uzbekistan shows every sign of intensifying, and in ways that could stand to benefit the region.
In perhaps the most arresting news, the state energy companies of the two countries over the weekend reached a loose and non-binding agreement to jointly develop Caspian Sea oil and gas deposits.
A memorandum of understanding to that effect was signed on May 20 on the sidelines of a working meeting in Turkmenistan’s Caspian resort of Awaza between Turkmen leader Gurbanguly Berdymukhamedov and his Uzbek counterpart Shavkat Mirziyoyev.
The memorandum envisions extracting hydrocarbon resources under a production sharing agreement. With the terms of the same agreement, the state companies have pledged to cooperate in boosting hydrocarbon refining capacity in both countries.
Quite how either cash-strapped country plans to finance and operate what would likely be a costly and technically challenging undertaking is not revealed, but these are still early days.
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