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Turkmenistan called on the Caspian countries to develop partnership in energy

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07 October 2022

Turkmenistan calls on the Caspian countries to cooperate in the energy sector. This was stated by Vice-Chairman of the Cabinet of Ministers of Turkmenistan Hodjamyrat Geldymyradov, speaking on Thursday at the Caspian Economic Forum in Moscow, Orient news agency reported.

 “One of the most important outcomes of the 6th Caspian Summit, held this year in Ashgabat, was the confirmation of the interest of our states in building up cooperation in the energy sector, the development of which today has become relevant not only for our region, but for the whole world,” H. Geldymyradov said.

 According to him, «the Caspian countries have huge natural resources and a developed fuel and energy industry.» “Thus, oil production in our states in 2021 amounted to 13.7 million barrels, or 20% of world production. Natural gas production amounted to more than 1 billion cubic meters or 26% of the world volume. The countries of the region generate 6% of the world's electricity,” the representative of Turkmenistan emphasized.

 In his opinion, the increase in the level of coordination of interstate activities aimed at creating favorable conditions for the implementation of joint projects in the fuel and energy sector remains relevant here.

 “We also consider it necessary to combine our efforts to form a commodity distribution system that will allow us to comprehensively address the issues of developing trade infrastructure and creating export channels,” the Vice-Chairman emphasized.