Turkmenistan president wants more foreign investment in energy sector

January 27, 2014

During a meeting of Turkmenistan's cabinet of ministers, the country's President Gurbanguly Berdimuhamedov stressed the need of intensifying the efforts in raising foreign investment in large infrastructure projects of the country's fuel and energy sector, according to Turkmen government's message, Trend reported on January 25.

"The head of state stressed the need to intensify efforts in raising foreign investments in large infrastructure projects, including in the areas of development of new hydrocarbon deposits, modernization and technical re-equipment of petrochemical plants and construction of innovative industries," Turkmen government said.

Berdimuhamedov emphasized the expediency of a phased expansion of partnership with leading foreign companies, which have best practices, technical and technological capabilities in this area, according to the message.

Turkmen government said that the meeting also discussed the implementation of the program on development of Turkmenistan's oil and gas industry till 2030.

The annual production of natural gas in the country is expected to reach 230 billion cubic meters by that time, and greatest part of the gas will be meant for export.

Copyright: Trend, 2014