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How to attract "green" investments and earn on CO2?

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24 June 2022

More than 275 trillion US dollars will be the volume of global investments to achieve the Global goals to reduce greenhouse gas emissions in the next 30 years. This assessment is given by experts from the World Bank. In fact, this is the volume of a colossal project market, and Turkmenistan can claim part of this investment as a country with great potential for making innovative decisions in the oil and gas sector, which is considered one of the main sources of greenhouse gas emissions.
Turkmenistan has a unique opportunity to take an active part not only in the carbon market, but also in the formation of rules and procedures that will correspond to the technical and technological features of the oil and gas sector in the region. This topic was raised at the international forum "Environmental Aspects of Extraction of Hydrocarbon Resources", held on Thursday in Ashgabat.
Key opportunities to reduce greenhouse gases, according to experts, are concentrated in such areas as: modernization of technological processes for the production, storage and transportation of hydrocarbons – reduction of methane emissions; useful utilization of associated natural gas flared today – reduction of CO2 emissions.
Proposals in these areas were made by Vema S.A. and Yug Neftegaz Private Limited performed by Igor Zgurov. According to him, the companies he represents have extensive experience in the implementation of climate projects from project development to its technical implementation and verification of results.
– We see one of the most effective forms of implementation of such projects is a service contract with the State Concern "Turkmenneft" under which our companies will provide financing for the project, produce additional products and record a reduction in emissions of both methane and CO2 -Zgurov said.
Vema S.A. in the climate market, has implemented more than 75 projects in different countries, which have attracted more than 400 million euros of investments and ensured the reduction of greenhouse gas emissions in the amount of more than 150 million tons of CO2 equivalent.