Turkmenistan Economic News
Another agreement on TAPI gas pipeline project signed in Ashgabat
The State Concern Turkmengaz, the Afghan Gas Corporation, the Interstate Gas Systems (Private) Limited (Pakistan), Gail Limited (India), and the Asian Development Bank have signed a Transaction Advisory Service Agreement on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline during the International Oil and Gas Forum in Ashgabat. The participating countries prepared all legal and commercial documents and signed the natural gas purchase-and-sale contracts, according to Turkmenistan.ru. The parties to the agreement are studying legal and technical issues to establish the TAPI Ltd. Consortium to deal with the practical implementation of the project and searching for foreign companies with relevant technical capability, advanced technologies, and hands-on experience in the construction of pipelines.
Source: Turkmenistan.ru EU considers conditions for Trans-Caspian Gas Pipeline agreement as favorable
Representatives of the European Union (EU) have expressed confidence that at this point favorable conditions have been created to conclude an agreement for the construction of the Trans-Caspian Gas Pipeline from Turkmenistan to Azerbaijan. "The Trans-Caspian pipeline is principal and the European Union (EU) believes there are now the most favorable conditions for reaching agreements and beginning construction," the European Union's Charge d'Affaires and interim representative in Turkmenistan, Denis Daniilidis, said on November 20 at the Oil and Gas Conference in Ashgabat. "During the negotiations we need to resolve a few remaining issues and the first pipeline may be built before the completion of the Southern Gas Corridor," he stressed. According to Daniilidis, the EU and Turkmenistan are in the final stage of negotiations.
Source: trend.az Russian President’s special representative: “Trans-Caspian gas pipeline can lead to a disaster in the Caspian Sea”
“The violation of the balance of forces in the Caspian region will reduce the level of security in the region,” said Ambassador-at-Large of the Russian Foreign Minister, Igor Bratchikov, in his interview with Russia’s RIA Novosti. Commenting on the statements that the US is interested in the Caspian region, Bratchikov noted that at present, there is a certain balance in the region: “Deliberate exaggeration of this balance will lead to the violation of stability, increase conflict potential, and reduce the security level. I’m sure that none of the Caspian littoral countries are interested in it.” He noted that implementation of this project can cause accidents that will affect the ecology of the entire region: “Turning a blind eye to this imposing, almost presumptuous, behavior of our European colleagues who try to connect Turkmenbashi and Baku with the gas pipeline, which is an disruption of the internal issues of the Caspian region, and disregarding environmental factors, would be reckless and disastrous.”
Source: en.apa.az Japan to finance construction of large chemical facilities in Turkmenistan
Japan will fund the construction of a number of industrial facilities, which will be built shortly and cost as much as $10 billion, the Ministry of Oil and Gas Industry and Mineral Resources of Turkmenistan said on 22 November. "The facilities will include plants for converting natural gas into liquid fuels, gasoline production, and production of high density polyethylene; a gas and chemical complex for the production of polyethylene and polypropylene; a workshop for producing sulfuric acid at the Turkmenabat chemical plant; plants for the production of sodium sulfate and detergents, as well as ammonia and urea in Garabogaz; and an enterprise for production of synthetic oil from associated gas," said the Ministry.
Source: trend.az German businesses explore opportunities to enhance cooperation with Turkmen partners
The Ministry of Economy and Technology of Germany in Berlin hosted a meeting entitled “Turkmenistan: Prospects for Cooperation,” organized in coordination with the Eastern Committee of the German Economy, the German-Turkmen forum, as well as Commit company. The delegation from Turkmenistan included members of the Chamber of Commerce and Industry, the Ministry of Economy and Development, the Turkmengaz State Concern, and staff of the Embassy of Turkmenistan in Germany. Some 60 representatives of German ministries, companies, and banks attended the event to learn about potential cooperation in areas such as mechanical engineering, agricultural machinery, wholesale consumer goods, food processing, construction and engineering services, energy, logistics, gas and refining, printing equipment manufacturers, road construction equipment manufacturers, among others.
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