English | 中文版 |  Русский

Breaking News:

turkmenistan

editor picks 

Editor PicksView All

turkmenistan

Turkmenistan Needs $5 Billion Annually to Stem Gas Output Drop

Turkmenistan needs at least $5 billion in aid to able to meet export commitments to China, Iran and Russia.

Turkmenistan needs at least $5 billion in aid to able to meet export commitments to China, Iran and Russia. The nation has reported a steady decline in natural gas production and the $5 billion a year would be required for the next decade. In order to meet targets, Turkmenistan needs to produce 90 billion cubic meters of gas a year. The problem is not whether or not the national can meet the demands but the lack of investments has led to the decline in gas production. Turkmenistan reportedly has the potential to produce about 14 trillion cubic meters of gas and produced 73 billion cubic meters of gas last year.

read source article
turkmenistan

Turkmen Businesses Experiencing Decrease In Trade

Turkmen entrepreneurs have been influenced by the global economic crisis.

Turkmen entrepreneurs have been influenced by the global economic crisis. According to reports Turkmen business experts have reported that trade turnover by small business entities has decreased by 20 to 30 percent since the fall. The influx of labor migrants from Russia and Turkey has also contributed to the rise in the country's unemployment figures. Turkemn President Gurbanguly Berdymukhammedov announced last week that the Turkmenistan economy has been deeply impacted by the global financial crisis.

read source article
turkmenistan

Political Stability Can Be Achieved Through Economic Means: Turkmen President

Turkmenistan President, Gurbangulu Berdymuhamedov, believes that political stability can be achieved through economic measures

Turkmenistan President, Gurbangulu Berdymuhamedov, believes that political stability can be achieved through economic measures. This statement was announced at the Economic Cooperation Operation summit in Teheran. Turkmenistan is participating at the summit as an associate member. The nation has reaffirmed the commitments and agreements reached prior to the implementation of major joint projects. Since joining ECO, Turkmenistan has introduced a number of initiatives such as energy security, water and energy issues, and transport and communication corridors. Some of the strategic initiatives includes diversifying the energy and transport infrastructures such as a railway construction between Kazakhstan, Turkmenistan and Iran.

read source article
turkmenistan

Turkmenistan to Raise Maternity and Disability Allowances Starting 1 July

Turkmenistan is seeking to increase maternity and disability allowances starting 1 July.

Turkmenistan is seeking to increase maternity and disability allowances starting 1 July. Turkmen President Gurbanguly Berdimuhamedov signed the law for social welfare. The law has been published in the central print media of Turkmenistan. The newly instated law would raise the maternity grant amounts as well as a monthly maternity allowance. The increased amount will be paid to mothers with under 3-year old children, previously under 1.5 year age limit. Other amendments also include raised allowances to disabled people of 1st, 2nd and 3rd groups of disability.

read source article
turkmenistan

Turkmens Seek Investors for Agriculture Sector

The Turkmenistan Agricultural Sector is looking for private investment, in order to boost productivity.

The Turkmenistan Agricultural Sector is looking for private investment, in order to boost productivity. President Gurbanguli Berdymukhamedov's remarks mark a significant change in economic policies from his autocratic predecessor. The announcement for private investment is aimed towards decreasing government funding and improve the conditions for private involvement. Since President Berdymukhamedov has come to power Turkmenistan is still ranked 169th out of 179 countries in the U.S. Based Heritage Foundation's index of economic freedom. The President is seeking investments in all agricultural sectors including cotton, wheat, cultivation of crops, including vegetables and fruits.

read source article
turkmenistan

Turkmenistan's Yolotan-Osman Field Is a 'Super Giant'

Turkmenistan's Yolotan-Osman is said to be one of the largest undeveloped natural-gas field.

Turkmenistan's Yolotan-Osman is said to be one of the largest undeveloped natural-gas field. This news comes after the government commissioned to survey the country's reserves. The field is reported 75 kilometers long and 35 kilometers wide and has a gas column of 500 meters, potentially holding 6 trillion cubic meters of gas. The field has come into spotlight with gas importers competing for supplies from Turkmenistan. Several wells have been drilled with China, Iran and Russia receiving majority of the fuel. Currently, the largest gas deposit provider is North Field-South Pars controlled between Qatar and Iran.

read source article
turkmenistan

U.S. Funds Border-Crossings In Turkmenistan

The United States has come to the aid of Turkmenistan to fund border-crossing stations to prevent smuggling.

The United States has come to the aid of Turkmenistan to fund border-crossing stations to prevent smuggling. The Turkmen border is said to be a key entry point for narcotics and other illegal materials such as radioactive, biological, and chemical agents. The U.S. Embassy spokesman said that the United States military has helped construct the border-crossing stations along Turkmenistan's borders with Iran and Afghanistan. The spokesman also stated that similar project is under way along the Turkmen-Uzbek border too. Each crossing stating is estimated to cost $5.5 million.

read source article
turkmenistan

EBRD Says Turkmenistan Progressed Economically

Although there has been plenty of grim news coming out from global media outlets, Turkmenistan has said to have progressed economically according to the European Bank for Reconstruction and Development's (EBRD).

Although there has been plenty of grim news coming out from global media outlets, Turkmenistan has said to have progressed economically according to the European Bank for Reconstruction and Development's (EBRD). The transition reports that Turkmenistan is progressing in carrying out economic reforms, but does state that the country still has a long way to go in reforming and growing its private sector. One sector that has done well has been the gas-sector. Gas is the main GDP contributor and forecasts the GDP growth.

read source article
turkmenistan

Energy Projects Need International Audit - Uzbek, Turkmen Leaders

On 25 February, Uzbek President Islam Karmov and Turkmen President Gurbanguly Berdimuhamedow stated that trans-border projects that include construction of power plants require international auditing.

On 25 February, Uzbek President Islam Karmov and Turkmen President Gurbanguly Berdimuhamedow stated that trans-border projects that include construction of power plants require international auditing. The call for international auditing has been called upon by Uzebek President Islam Karmov, who questions the benefits of the construction of power plants and the effects of building hydroelectric power plants on the Syrdarya and Amudarya rivers. The Turkmen President did not reject Islam Karmov's call for an objective view, instead, he too called for an international audit.

read source article
turkmenistan

Russian Auto Giant Brought Back from Brink by Turkmenistan

Kamaz – Russian auto giant- has already stopped production three times since the onset of the global financial and economic crisis

Kamaz – Russian auto giant- has already stopped production three times since the onset of the global financial and economic crisis. The auto giant has re-started production due to a huge order from Turkemenistan; Turkemnistan has said to have ordered 1,040 vehicles with a total value of nearly $100 million. The ministry of Trade and Foreign Economic Relations shall purchase the vehicles and parts for the municipality of Ashgabat and provincial administrations. The order also aids in revamping Kamaz's image, where Kamaz trucks shall be featured during the Kazan-Ashgabat rally.

read source article
turkmenistan

EU Weighs Image Energy in Relations with Turkmenistan

The Interim Trade Agreement (ITA) with Turkmenistan is said to have finally received the green light from the European Parliament.

The Interim Trade Agreement (ITA) with Turkmenistan is said to have finally received the green light from the European Parliament. The ITA had been blocked since 2006 by the European Parliament when Turkmenistan failed to improve its dismal human rights record. ITA has now been given clearance due to the disputes between Russia and Ukraine and the need for energy . Although members of the EU are advocating diversifying energy agreements the plan to unblock the ITA remains contentious in the EU.

read source article
turkmenistan

Turkmenistan: Ashkhabad Moves Quickly To Ccomplete Energy Deal With Iran

An Iranian delegation is due in Turkmenistan within days to work out details of a preliminary bilateral agreement covering the development of the Central Asian nation's gas deposits in the Yoloten region.

An Iranian delegation is due in Turkmenistan within days to work out details of a preliminary bilateral agreement covering the development of the Central Asian nation's gas deposits in the Yoloten region. Turkmen President Gurbanguly Berdymukhamedov worked out the framework agreement during a February 13-15 visit to Iran. [For background see the Eurasia Insight archive]. According to a report distributed by the Tehran Times on February 17, Iran's ambassador in Ashgabat, Mohammad Reza Forqani, revealed that Iranian experts will try to hammer out all the terms of cooperation during the upcoming visit to Ashgabat. "Iran will act as a contractor and the Turkmen side will pay all the expenses," Turkmen state television quoted the chairman of the Iranian Gas Export Company, Reza Kasaeizadeh, as saying. According to Iran's state-owned ISNA news agency, Iran's oil minister, Gholamhossein Nozari, indicated that Tehran would import an additional 10 billion cubic meters (bcm) of Turkmen gas annually. Iran currently imports about 8 bcm of gas from its northern neighbor. Officially, trade turnover between the two countries stood at just under $3 billion in 2008 and is expected to rise to $5 billion in 2009. The Yoloten gas field is part of the Southern Yoloten-Osman deposit near the Turkmen-Iranian border. An appraisal by a British firm, Gaffney, Cline & Associates, indicated that the deposit contained at least 4 trillion cubic meters of gas, and perhaps as much as 14 trillion.

read source article
turkmenistan

TURKMENISTAN: TRADING WITH OLD ENEMIES CAN MAKE FRIENDS

Trade between Turkmenistan and Uzbekistan, whose bilateral relations have often been marked by acrimony, is on the rise. Bilateral turnover for 2008 hit $132.3 million, marking a 37 percent increase over the previous year. Even so, the Turkmen-Uzbek figure is dwarfed by the $3 billion in 2008 trade between Turkmenistan and its southern neighbor Iran.

Trade between Turkmenistan and Uzbekistan, whose bilateral relations have often been marked by acrimony, is on the rise. Bilateral turnover for 2008 hit $132.3 million, marking a 37 percent increase over the previous year. Even so, the Turkmen-Uzbek figure is dwarfed by the $3 billion in 2008 trade between Turkmenistan and its southern neighbor Iran. Elyor Ganiev, the Uzbek Minister of Foreign Economic Relations, Investments and Trade, revealed the Turkmen-Uzbek trade statistic following a meeting with his Turkmen counterpart, Nokerguly Atagulyev, in Tashkent February 12, according to a report distributed by the UzReport.com website. According to an Uzbek trade ministry statement, the bulk of bilateral commerce comprises Uzbek exports, which grew by 57 percent and totaled $109.9 million in 2008. On February 11, Turkmen Foreign Minster Rashid Meredov revealed that trade between Ashgabat and Tehran in 2008 was significantly more lucrative at "about $3 billion." That figure stands to rise during the year as Turkmenistan and Iran prepare to embark on a major development program of gas fields on the Turkmen side of their joint border.

read source article
turkmenistan

Turkmenistan fails to keep human rights promises

In February 2007, a new government came to power in Turkmenistan, promising to uphold human rights. Two years on, politically motivated harassment, detentions and imprisonments continue unabated in the country.

n February 2007, a new government came to power in Turkmenistan, promising to uphold human rights. Two years on, politically motivated harassment, detentions and imprisonments continue unabated in the country. The authorities launched a new wave of repression in April 2008, as part of their policy to silence civil society activists and deny freedom of the media. Amnesty International has learned of many cases where journalists who cooperated with foreign media outlets that published information critical of the authorities were subjected to harassment and intimidation.

read source article
turkmenistan

Dragon Oil Encouraged by Cheleken Reserves Offshore Turkmenistan

Dragon Oil has announced the results of the recent certification of its oil and condensate reserves in the Cheleken Contract Area in the Caspian Sea, offshore Turkmenistan. The certification was completed by Gaffney, Cline and Associates.

Dragon Oil has announced the results of the recent certification of its oil and condensate reserves in the Cheleken Contract Area in the Caspian Sea, offshore Turkmenistan. The certification was completed by Gaffney, Cline and Associates. Abdul Jaleel Al Khalifa, CEO, commented, "I am pleased to announce the results of the latest reserves certification for the Cheleken Contract Area with proved and probable (2P) reserves of 645 million barrels of oil and condensate and 3.2 tcf of gas resources. This certification incorporates the results of full field remapping for all the reservoir levels based on the 3D seismic survey conducted from 2004 to 2005. This result confirms our previous interpretation of the field and we can now continue to proceed confidently with the field development plan."

read source article
turkmenistan

Dragon Oil Tests Positive Oil, Spuds New Well in Turkmenistan

Dragon Oil has provided a drilling update for its Dzheitune (Lam) L21/132 development well and the spudding of the Dzheitune (Lam) L13/133 well.

Dragon Oil has provided a drilling update for its Dzheitune (Lam) L21/132 development well and the spudding of the Dzheitune (Lam) L13/133 well. Drilling of the Dzheitune (Lam) L21/132 well was stopped at 3,001 meters when it encountered pressures that were higher than expected. As a result, the well did not penetrate the main intended deeper intervals. The well was completed as a single completion over the secondary interval. It is envisaged that in the future the well will be deepened to penetrate the main target intervals. Initial testing of the secondary interval resulted in production rates of 916 bopd. Further testing and optimization is scheduled to take place over the next few weeks.

read source article
turkmenistan

Boosting Ties Between Turkmenistan And UAE

Coming times will witness enhanced partnership between Turkmenistan and United Arab Emirates .

Coming times will witness enhanced partnership between Turkmenistan and United Arab Emirates . Senior Turkmen officials stress on the mutual benefit resulting from such partnership and encourage UAE to benefit from the economic boom that was witnessed in Turkmenistan through investments in oil, gas, and infrastructure projects. The continued interaction between both parties and support to facilitate investment by UAE companies in Turkmenistan through the removal of all impediments is stressed upon..

read source article
turkmenistan

Turkmenistan: Three Turkic Leaders Pledge to Boost Relations

Turkmenistan, Turkey and Azerbaijan announced plans to increase trade and economic cooperation during a trilateral summit held in Turkmenbashi earlier this week.

Turkmenistan, Turkey and Azerbaijan announced plans to increase trade and economic cooperation during a trilateral summit held in Turkmenbashi earlier this week. The three countries also hope to increase cooperation in the communications, transport and energy sector.

read source article
turkmenistan

Stage Set for More Vibrant Ties with Central Asian Countries

The Hydrocarbon-rich countries, Turkmenistan and Kazakhstan, are heading towards a close economic relationship with India.

The Hydrocarbon-rich countries, Turkmenistan and Kazakhstan, are heading towards a close economic relationship with India. The Vice President Hamid Ansari stated that India has capacities, Turkmenistan and Kazakhstan capabilities and energy is the "prime factor".

read source article
turkmenistan

Turkmenistan: Leader Proclaims “Open Door” Investment Policy

Signs show that Turkmen leader Gurbanguly Berdymukhamedov will eventually export some of Turkmenistan's natural gas by way of the planned trans-Caspian pipeline.

Signs show that Turkmen leader Gurbanguly Berdymukhamedov will eventually export some of Turkmenistan's natural gas by way of the planned trans-Caspian pipeline. He invited energy companies from around the world to help develop Turkmenistan's massive reserves of gas, saying international firms can propose "interesting initiatives that meet foreign requirements." He is now advocating an "open door" policy.

read source article
turkmenistan

Investors Eye Turkmen Fuel Show

Turkmenistan is making efforts to attract new investors, predominantly in the oil and gas industry.

Turkmenistan is making efforts to attract new investors, predominantly in the oil and gas industry. For the last two decades, under the former President Saparmurat Niyazov rule, Turkmenistan was practically detached from the outside world as a result of isolationist polices. The current president, Kurbanguly Berdymukhamedov, is showing willingness to join the international community.

read source article
turkmenistan

Gazprom Loses Cheap Central Asian Gas

Gazporom will begin buying gas from Uzbekistan, Kazakhstan, and Turkmenistan at European tariffs as of 2009 in accordance with a decision made by senior executives of Gazprom, Kazmunaigaz, Uzbekneftegaz, and Turkmengaz.

Gazporom will begin buying gas from Uzbekistan, Kazakhstan, and Turkmenistan at European tariffs as of 2009 in accordance with a decision made by senior executives of Gazprom, Kazmunaigaz, Uzbekneftegaz, and Turkmengaz. Gazprom buys 55-60 billion cubic meters of gas from Central Asian countries mostly at the prices already set. East European Gas Analysis Director Mikhail Korchemkin claims that Central Asian gas will cost Gazprom about USD 8 billion this year.

read source article
turkmenistan

Turkmenistan Gives 500 Tons of Oil to Tajikistan

Turkmenistan has pledged 500 tons of oil to Tajikistan in order to alleviate the heating crisis.

Turkmenistan has pledged 500 tons of oil to Tajikistan in order to alleviate the heating crisis. The retail value of 500 tons of oil is nearly USD 385,000. Turkmenistan also sent a relief caravan to Afghanistan with 500 tons of diesel oil, 1000 tons of wheat flour and 900 tons of garments and blankets.

read source article
turkmenistan

Russia to Pay 50 Percent More for Turkmenistan Gas

Turkmenistan will charge Russia nearly 50 percent more for its gas and accelerate construction on the Caspian Sea pipeline.

Turkmenistan will charge Russia nearly 50 percent more for its gas and accelerate construction on the Caspian Sea pipeline. The new deal between Russia and Turkmenistan is predicted to push up prices for the Ukraine, who in the past has had gas disputes with Russia. Gazprom, the state run export monopoly, will see the Turkmen gas price rise from the current USD100 per 1,000 cubic meters to USD130 in 2008 and eventually to USD150 by the end of 2008.

read source article
turkmenistan

Dragon Oil to Invest in Turkmenistan

Dragon Oil Plc, a Dubai based oil producer, will invest USD600 million in Turkmenistan oil.

Dragon Oil Plc, a Dubai based oil producer, will invest USD600 million in Turkmenistan oil. Hussain Sultan, Chairman and CEO of Dragon, has said, "We plan to invest more than $600 million next year and produce about two million tonnes of oil." Dragon's main interests lie in the Caspian Sea.

read source article
turkmenistan

ONGC-Mittal Invest in Oil in Turkmenistan

ONGC, an Indian explorer of oil and natural gas, and Mittal Energy Ltd., have acquired in their joint venture a 30 percent exploration block in Turkmenistan.

ONGC, an Indian explorer of oil and natural gas, and Mittal Energy Ltd., have acquired in their joint venture a 30 percent exploration block in Turkmenistan. Maersk Oil, of Denmark, holds a 36 percent participating interest, and Wintershall, of Germany, has 34 percent. The Mittal-ONGC joint venture currently owns four oil and gas properties, including two deepwater exploration blocks in Nigeria and one producing in Syria.

read source article
turkmenistan

Turkmenistan Opens to Russian Telecom Company

MTS, a Russian telecom company, has plans to start offering its service in Turkmenistan.

Turkmenistan, formerly one of the most isolated states, will begin opening up. Saparmurat Niyazov's death ended his rule and new leader, Kurbanguly Berdymukhamedov, has already moved to encourage foreign investment, lift both economic and social restrictions and liberalize the economy. MTS, a Russian telecom company, has plans to start offering its service in Turkmenistan. Turkmentelekom, currently the countries only internet provider, blocks numerous sites and only a few people use the service. MTS is planning on providing mobile internet service for Turkmen customers as soon as November

read source article
turkmenistan

Turkmenistan Makes Deal With China

Turkmenistan is attempting to break Russia's control over its energy exports.

With two large economies eager to purchase its energy on either side, Turkmenistan is attempting to break Russia's control over its energy exports. With its massive amounts of natural gas reserves, Turkmenistan is becoming impossible to ignore. Turkmenistan is now trading on a larger market, with a pipeline deal to China; however, it must maintain its close ties with Russia. Gurbanguly Berdymukhammedov, Turkmen President, is open about seeking different exports routes, and along with foreign governments, considering four pipelines that omit Russia. While the old president made investments unstable, Berdymukhammedov is proving to be a more reliable and encouraging leader. While Russia currently recieves most of Turkmenistan gas exports, China is making the move to take Russia's spot as it already signed a contract with Turkmenistan to receive 30 billion cubic meters by the year 2010 through a pipeline expected to be operational by 2009.

read source article
turkmenistan

Turkmenistan's Oil Development Causes Concern

Under new leadership, Turkmenistan appears to welcome foreign investors.

Under new leadership, Turkmenistan appears to welcome foreign investors. Government representatives from both Britain and Austria visited Turkmenistan to discuss the oil and gas industry. President of Turkmenistan, Berdymukhammedov told the UN that he has plans to widen its relationships with other countries in the areas of economy and energy. This openness means more development in the gas and oil industries in which Turkmenistan could be opening up its economy at the expense of local communities and wildlife. At this point in time, the agreements are not open so it is unclear what environmental protections will be required.

read source article
turkmenistan

Turkmenistan's Natural Gas and Oil Industy Hopefully Opens to International Investors

In a visit to the United States, President of Turkmenistan Berdymuhammedov, will meet with the US Secretary of State to discuss American investors investing in Turkmenistan's national gas sector.

In a visit to the United States, President of Turkmenistan Berdymuhammedov, will meet with the US Secretary of State to discuss American investors investing in Turkmenistan's national gas sector. Turkmenistan, home to the twelfth largest gas field in the world, only recently began to prepare to export it's natural gas and oil. Russia has controlled the exports since 1991 because the only pipeline went through Russian territory. Now, however, with the construction of a smaller pipeline that runs between Turkmenistan and Iran, Turkmen natural gas and oil could soon be provided to world markets.

read source article
turkmenistan

Turkmen Leader Heads To U.S. To Explore Closer Energy Ties

Turkmen President Kurbanguly Berdymukhamedov heads to the United States later this week to explore closer energy ties with the West and to cultivate the West as an export market for Turkmenistan natural gas, a move certain to irritate Russia.

Turkmen President Kurbanguly Berdymukhamedov heads to the United States later this week to explore closer energy ties with the West and to cultivate the West as an export market for Turkmenistan natural gas, a move certain to irritate Russia. He will meet Secretary of State Condoleezza Rice and make a speech at the U.N. General Assembly on Wednesday in his first trip to the West since coming to power last year. Russia, which buys most of Turkmenistan's gas exports, will watch the trip closely for signs that Turkmenistan may agree to a Western-proposed pipeline linking Turkmenistan with Western markets and bypassing Russian. The United States and the European Uinon are aggressively wooing the country to ease its dependence on Ruissa, which buys most of Turkmenistan's gas exports at below-market prices.

read source article
turkmenistan

NBCentralAsia Analysts Believe Economic Reform Plans of Turkemenistan President

Earlier this month, Turkmenistan President Gurbanguly Berdymuhammedov unveiled plans for a new economic strategy to transform Turkmenistan economy into a market economy by means of stable policies and regulation.

Earlier this month, Turkmenistan President Gurbanguly Berdymuhammedov unveiled plans for a new economic strategy to transform Turkmenistan economy into a market economy by means of stable policies and regulation. The current economy is run on a state monopoly model established by the late president Saparmurat Niazov. NBCentralAsia analysts said that efforts to move the Turkmenistan economy into a free-market economy will be difficult, given the entrenched state government corruption.

read source article
turkmenistan

Analysts Doubtful About Turkmenistan's Reform Plans

Turkmenistan's President Gurbanguly Berdymuhammedov had recently published a road map to transform Turkmenistan into a market country. Analysts, however, describe the plans as vague and unrealistic. Major elements of the plan include stable policy and regulation, flexibility and transparency.

Turkmenistan's President Gurbanguly Berdymuhammedov had recently published a road map to transform Turkmenistan into a market economy. Analysts, however, describe the plans as vague and unrealistic. Major elements of the plan include stable policy and regulation, flexibility and transparency. Analysts consider the government's monopolistic top-down administration and the incapability of effectively combating corruption as major obstacles.

read source article
turkmenistan

China, Turkmenistan with common Gas Pipeline

After having signed a previous agreement to build a common gas pipeline, China and Turkmenistan have taken first steps of implementation. China has received a license from the Turkmen President allowing its national oil and gas corporation to prospect and develop the Bagtyyarlyk gas deposit. The completion of the pipeline is scheduled for 2009. As of that date, Turkmenistan has agreed to provide China with 30 billion cubic meters of gas annually for a term of 30 years.

After having signed a previous agreement to build a common gas pipeline, China and Turkmenistan have taken first steps of implementation. China has received a license from the Turkmen President allowing its national oil and gas corporation to prospect and develop the Bagtyyarlyk gas deposit. The completion of the pipeline is scheduled for 2009. As of that date, Turkmenistan has agreed to provide China with 30 billion cubic meters of gas annually for a term of 30 years.

read source article
turkmenistan

Turkmenistan Invites Arab Investors

Turkmen President Gurbanguly Berdimuhammedow has invited Arab investors to develop oil and gas deposits in Turkmenistan. He hopes to attract major investments into the country through the exploration of hydrocarbon resources. In addition to this sector, he has invited investments in all areas of interest food production, textile, transport and communications, and housing construction.

Turkmen President Gurbanguly Berdimuhammedow has invited Arab investors to develop oil and gas deposits in Turkmenistan. He hopes to attract major investments into the country through the exploration of hydrocarbon resources. In addition to this sector, he has invited investments in all areas of interest food production, textile, transport and communications, and housing construction.

read source article
turkmenistan

Turkmen-Iranian Summit Ends in Agreement

The Turkmen-Iranian summit ended yesterday with President Gurbanguly Berdimuhamedov of Turkmenistan and President Mahmood Ahmadinejad of Iran signing bilateral documents. The memoranda specified cooperation on many levels including water management, trade, transport, and energy. The signing of these documents reaffirmed the desire of both sides to strengthen ties between the two countries.

The Turkmen-Iranian summit ended yesterday with President Gurbanguly Berdimuhamedov of Turkmenistan and President Mahmood Ahmadinejad of Iran signing bilateral documents. The memoranda specified cooperation on many levels including water management, trade, transport, and energy. The signing of these documents reaffirmed the desire of both sides to strengthen ties between the two countries.

read source article
turkmenistan

US Encouraged Turkmenistan to Diversify Export Routes

The United States encouraged Turkmenistan to diversify its energy export routes on Tuesday. The U.S. assistant secretary of state for economic, energy and business affairs, Daniel Sullivan, stated that nations should not limit their options. He expressed U.S. interest in assisting Turkmenistan's economic growth and urged the country to fight corruption and increase transparency to attract foreign investors.

The United States encouraged Turkmenistan to diversify its energy export routes on Tuesday. The U.S. assistant secretary of state for economic, energy and business affairs, Daniel Sullivan, stated that nations should not limit their options. He expressed U.S. interest in assisting Turkmenistan's economic growth and urged the country to fight corruption and increase transparency to attract foreign investors.

read source article
turkmenistan

Shanghai Cooperation Organization Keen on Turkmenistan Membership

According to a deputy Russian foreign minister, the Shanghai Cooperation Organization (SCO) is interested in involving energy-rich Turkmenistan in its activities. The SCO has offered Turkmen President Gurbanguly Berdymukhammedov an invitation to attend Thursday's meeting in the Kyrgyzstan capital of Bishkek. The possibility of establishing an energy club will be touched upon by the heads of state from Kazakhstan, China, Russia, Tajikistan, Uzbekistan, and Kyrgyzstan. Pakistan, India, Mongolia, and Iran will be in attendance as well, considering the four nations role in the SCO, which is observer status.

According to a deputy Russian foreign minister, the Shanghai Cooperation Organization (SCO) is interested in involving energy-rich Turkmenistan in its activities. The SCO has offered Turkmen President Gurbanguly Berdymukhammedov an invitation to attend Thursday's meeting in the Kyrgyzstan capital of Bishkek. The possibility of establishing an energy club will be touched upon by the heads of state from Kazakhstan, China, Russia, Tajikistan, Uzbekistan, and Kyrgyzstan. Pakistan, India, Mongolia, and Iran will be in attendance as well, considering the four nations role in the SCO, which is observer status.

read source article
turkmenistan

Turkmenistan Hosts Iran to Negotiate Cooperation

President Mahmoud Ahmadinejad of the Islamic Republic of Iran arrived in Ashgabat, the capital city of Turkmenistan, to discuss cooperation in the oil and gas sector. On the eve of the summit, government delegates established the necessary steps to realize the potential of the existing partnership. In addition, a package of bilateral documents was prepared, which addressed the trade and economic partnership, joint resolution of water management issues, and interaction in the cultural sphere.

President Mahmoud Ahmadinejad of the Islamic Republic of Iran arrived in Ashgabat, the capital city of Turkmenistan, to discuss cooperation in the oil and gas sector. On the eve of the summit, government delegates established the necessary steps to realize the potential of the existing partnership. In addition, a package of bilateral documents was prepared, which addressed the trade and economic partnership, joint resolution of water management issues, and interaction in the cultural sphere.

read source article
turkmenistan

Turkmenistan: Strong Economic Growth

The Minister of Economy and Finance, Khodjamyrat Geldimyradov, announced the figures of social-economic development of the country at the Cabinet of Ministers meeting. This meeting was overseen by Turkmen President Gurbanguly Berdimuhamedov, and was to assess the efficacy of reforms made during the last 7 months of the year and to define further implementation of these reforms. According to the Minister, TMM 94.6 million worth of output has been produced in Turkmenistan. An increase of 20.4 percent from the same period last year. As part of this growth, major contributions included 26 percent industrial, 14.7 percent agricultural, 20.6 percent construction, and 23.8 percent retail trade.

The Minister of Economy and Finance, Khodjamyrat Geldimyradov, announced the figures of social-economic development of the country at the Cabinet of Ministers meeting. This meeting was overseen by Turkmen President Gurbanguly Berdimuhamedov, and was to assess the efficacy of reforms made during the last 7 months of the year and to define further implementation of these reforms. According to the Minister, TMM 94.6 million worth of output has been produced in Turkmenistan. An increase of 20.4 percent from the same period last year. As part of this growth, major contributions included 26 percent industrial, 14.7 percent agricultural, 20.6 percent construction, and 23.8 percent retail trade.

read source article
turkmenistan

Asian Development Bank to Finalize Framework for Gas Pipeline

The Asian Development Bank (ADB) is working on finalizing the framework for a USD 4 billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project. Delegations will determine how to allocate gas quantities for the producers as well as the requirements for recipient countries. The United States has openly expressed support for this project and is prepared to aid the project in security issues.

The Asian Development Bank (ADB) is working on finalizing the framework for a USD 4 billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project. Delegations will determine how to allocate gas quantities for the producers as well as the requirements for recipient countries. The United States has openly expressed support for this project and is prepared to aid the project in security issues.

read source article
turkmenistan

Turkmenistan: Oil and Gas Exploration

Oil and gas exploration in Turkmenistan is under consideration by UAE's International Petroleum Investment Company (IPIC) and Royal Dutch Shell in a joint effort to boost gas exports, reinforce Shell's position in the region, and increase IPIC's investment portfolio. The exploration of these resources and building of urea plants are pending government approval.

Oil and gas exploration in Turkmenistan is under consideration by UAE's International Petroleum Investment Company (IPIC) and Royal Dutch Shell in a joint effort to boost gas exports, reinforce Shell's position in the region, and increase IPIC's investment portfolio. The exploration of these resources and building of urea plants are pending government approval.

read source article
turkmenistan

Turkmenistan to Create Government Economics Think Tank

Turkmen President Berdymuhammedov has announced plans for an official think tank focused on economic policy to advise the government. The think tank is seen as a way to implement the reforms that are needed in the country where statistics are kept secret and the government served to carry out the wishes of the previous president, Saparmurat Niazov.

Turkmen President Berdymuhammedov has announced plans for an official think tank focused on economic policy to advise the government. The think tank is seen as a way to implement the reforms that are needed in the country where statistics are kept secret and the government served to carry out the wishes of the previous president, Saparmurat Niazov.

read source article
turkmenistan

Turkmenistan Meets with Belarus to Expand Trade

The Turkmen President met with the Deputy Prime Minister of Belarus yesterday to discuss and expand trade relations. The two countries agreed to cooperation in the fuel and energy sector, education sphere, and sports. The Turkmen President invited Belarus to invest and work on the new national tourist zone on the Caspian Sea, and a new cement plant. Recent trade activity between Belarus and Turkmenistan has increased 14 times to USD 57 million.

The Turkmen President met with the Deputy Prime Minister of Belarus yesterday to discuss and expand trade relations. The two countries agreed to cooperation in the fuel and energy sector, education sphere, and sports. The Turkmen President invited Belarus to invest and work on the new national tourist zone on the Caspian Sea, and a new cement plant. Recent trade activity between Belarus and Turkmenistan has increased 14 times to USD 57 million.

read source article
turkmenistan

Turkmenistan to Spend USD 1 Billion on Tourism Drive

Turkmenistan's President announced a new USD 1 billion plan to turn the city of Turkmenbashi into a major tourist destination. The hope is to turn it into a metropolis by the sea with the country's first free economic zone. The government also plans to loosen visa restrictions for tourists, and is seeking foreign investment to help build the planned skyscrapers, hotels, spas, and restaurants in Turkmenbashi.

Turkmenistan's President announced a new USD 1 billion plan to turn the city of Turkmenbashi into a major tourist destination. The hope is to turn it into a metropolis by the sea with the country's first free economic zone. The government also plans to loosen visa restrictions for tourists, and is seeking foreign investment to help build the planned skyscrapers, hotels, spas, and restaurants in Turkmenbashi.

read source article
turkmenistan

Kyrgyzstan Proposes Single Central Asian Energy Exchange

Kyrgyzstan has proposed the development of a single energy exchange market for all of Central Asia, but observers have noted that the idea may be unrealistic if regional powers Kazakhstan and Turkmenistan, as well as other major international powers, do not back the plan. The exchange would be based in Bishkek and would feature heavyweight international players such as the US, Russia, European Union and China.

Kyrgyzstan has proposed the development of a single energy exchange market for all of Central Asia, but observers have noted that the idea may be unrealistic if regional powers Kazakhstan and Turkmenistan, as well as other major international powers, do not back the plan. The exchange would be based in Bishkek and would feature heavyweight international players such as the US, Russia, European Union and China.

read source article
turkmenistan

Kyrgyzstan Bidding for Inclusion in Chinese-Central Asian Pipeline

Kyrgyzstan is showing its interest in being the transit country for a proposed pipeline that would transport Turkmen and Uzbek energy to China. Though the mountainous terrain of Kyrgyzstan makes them an expensive option, the project would be granted financial backing from the Asian Development Bank (ADB) and the basic infrastructure is already in place. Confidence that Kyrgyz authorities will not use their advantageous position as a political bargaining chip may is expected to help move the project forward.

Kyrgyzstan is showing its interest in being the transit country for a proposed pipeline that would transport Turkmen and Uzbek energy to China. Though the mountainous terrain of Kyrgyzstan makes them an expensive option, the project would be granted financial backing from the Asian Development Bank (ADB) and the basic infrastructure is already in place. Confidence that Kyrgyz authorities will not use their advantageous position as a political bargaining chip may is expected to help move the project forward.

read source article
turkmenistan

China Wants Turkmen Natural Gas

Heads of State from Turkmenistan and China are meeting tomorrow to discuss the possibility of Turkmenistan exporting natural gas to China. This new pipeline would be another avenue of Central Asian gas to China; Beijing is also in talks with Kazakhstan and Uzbekistan about natural gas pipelines. Turkmenistan has also promised a gas pipeline to Russia, and is negotiating with the United States, Europe, and Pakistan.

Heads of State from Turkmenistan and China are meeting tomorrow to discuss the possibility of Turkmenistan exporting natural gas to China. This new pipeline would be another avenue of Central Asian gas to China; Beijing is also in talks with Kazakhstan and Uzbekistan about natural gas pipelines. Turkmenistan has also promised a gas pipeline to Russia, and is negotiating with the United States, Europe, and Pakistan.

read source article
turkmenistan

Hydrocarbon Companies in Talks with Turkmenistan

The CEOs of Delta Company and Mitro International Limited, both international hydrocarbon companies, met with the President of Turkmenistan to discuss the possibility of expansion into the Central Asian country. President Berdymuhammedov has stated that he has interest in cooperating with known dependable and honest partners. The two companies are interested in creating a free economic zone in the capital of Turkmenbashi.

The CEOs of Delta Company and Mitro International Limited, both international hydrocarbon companies, met with the President of Turkmenistan to discuss the possibility of expansion into the Central Asian country. President Berdymuhammedov has stated that he has interest in cooperating with known dependable and honest partners. The two companies are interested in creating a free economic zone in the capital of Turkmenbashi.

read source article
turkmenistan

Turkmen-Russian Economic Commission to Meet

The Turkmen-Russian Economic Cooperation Commission is meeting this week to discuss further bilateral economic partnerships. They will focus especially on the oil and gas sectors, in addition to other markets. The discussions will also address legal issues and framework documents and agreements covering mutual protection and promotion of investments.

The Turkmen-Russian Economic Cooperation Commission is meeting this week to discuss further bilateral economic partnerships. They will focus especially on the oil and gas sectors, in addition to other markets. The discussions will also address legal issues and framework documents and agreements covering mutual protection and promotion of investments.

read source article
turkmenistan

Turkmenistan Interested in Pipeline Across Afghanistan

Turkmenistan's President announced that he is still interested in implementing a plan for a gas pipeline through Afghanistan to Pakistan and India. This plan has been in the works for awhile, but President Berdymukhamedov wants to assure the public that the project has not been superseded by talks of other pipeline projects. The pipeline theoretically will have the capacity to transport 30 billion cubic meters of gas a year.

Turkmenistan's President announced that he is still interested in implementing a plan for a gas pipeline through Afghanistan to Pakistan and India. This plan has been in the works for awhile, but President Berdymukhamedov wants to assure the public that the project has not been superseded by talks of other pipeline projects. The pipeline theoretically will have the capacity to transport 30 billion cubic meters of gas a year.

read source article
turkmenistan

Kazakhtelecom Closes Tajikistan Office in Fiber Optic Venture

Kazakhtelecom, Kazakhstan's national telecommunications operator, intends to close its representative office in Tajikistan amid criticisms that Tajik Telecom is not fulfilling its promise to expedite the implementation of a fiber optic infrastructure. Nearly USD 100 Million is slated to be invested into this project by Kazakhtelecom, which was hoped to strategically reach markets in Afghanistan, Pakistan, and India through Tajikistan. Makhsut Karzhubayev, the head of Kazakhtelecom's representative office in Dushanbe noted alternative routes for the fiber optic lines are being explored in Turkmenistan.

Kazakhtelecom, Kazakhstan's national telecommunications operator, intends to close its representative office in Tajikistan amid criticisms that Tajik Telecom is not fulfilling its promise to expedite the implementation of a fiber optic infrastructure. Nearly USD 100 Million is slated to be invested into this project by Kazakhtelecom, which was hoped to strategically reach markets in Afghanistan, Pakistan, and India through Tajikistan. Makhsut Karzhubayev, the head of Kazakhtelecom's representative office in Dushanbe noted alternative routes for the fiber optic lines are being explored in Turkmenistan.

read source article
turkmenistan

Turkmenistan to Increase Natural Gas Exports to Russia

Turkmen President Berdymukhamedov announced a plan to develop both the Russian favored seashore pipeline, and the U.S. backed undersea Caspian pipeline. This move was calculated to maintain neutrality and balance relations with key powers in global politics. Though the president has decided to increase exports of gas to Russia, he has made it clear that he does not wish to join any political alliances.

Turkmen President Berdymukhamedov announced a plan to develop both the Russian favored seashore pipeline, and the U.S. backed undersea Caspian pipeline. This move was calculated to maintain neutrality and balance relations with key powers in global politics. Though the president has decided to increase exports of gas to Russia, he has made it clear that he does not wish to join any political alliances.

read source article
turkmenistan

Israeli Company to Open Gas Processing Plant in Turkmenistan

Israeli company Merhav met with President Berdymuhammedov of Turkmenistan to discuss Merhav's expansion into the country's natural gas processing. A gas processing and cleaning plant with a capacity of 4 billion cubic meters per year will be established at the Tarabil and Gurrukbi fields. Other projects include a potassium fertilizer factory, a greenhouse complex, and several dairy farms.

Israeli company Merhav met with President Berdymuhammedov of Turkmenistan to discuss Merhav's expansion into the country's natural gas processing. A gas processing and cleaning plant with a capacity of 4 billion cubic meters per year will be established at the Tarabil and Gurrukbi fields. Other projects include a potassium fertilizer factory, a greenhouse complex, and several dairy farms.

read source article
turkmenistan

Energy, Trade Discussed at EU's Central Asia Strategy Talks

The EU's first ever strategic talks concerning a cooperative strategy with Central Asia garnered approval from the bloc's foreign ministers following a meeting in Luxembourg. The strategy addresses a number of areas, including Central Asia's immense reserves of oil and gas as well as trade, drug-trafficking prevention, and democracy.

The EU's first ever strategic talks concerning a cooperative strategy with Central Asia garnered approval from the bloc's foreign ministers following a meeting in Luxembourg. The strategy addresses a number of areas, including Central Asia's immense reserves of oil and gas as well as trade, drug-trafficking prevention, and democracy.

read source article
turkmenistan

Littoral States Fail to Reach Agreement on Caspian Sea's Legal Status

In the course of meetings this week in Tehran between the foreign ministers of Azerbaijan, Russia, Kazakhstan, Iran and Turkmenistan, little progress was made on determining the legal status of the Caspian Sea. The original status of the Caspian was brokered between Iran and the Soviet Union in 1921 and 1940, and with the breakup of the Soviet Union, there has been no revision to take into account the newly independent littoral States. Iran and Russia have pushed to maintain the 1940 agreement in order to maximize their influence, while the other three States are pushing to redivide the seabed in order to facilitate petroleum exploration.

In the course of meetings this week in Tehran between the foreign ministers of Azerbaijan, Russia, Kazakhstan, Iran and Turkmenistan, little progress was made on determining the legal status of the Caspian Sea. The original status of the Caspian was brokered between Iran and the Soviet Union in 1921 and 1940, and with the breakup of the Soviet Union, there has been no revision to take into account the newly independent littoral States. Iran and Russia have pushed to maintain the 1940 agreement in order to maximize their influence, while the other three States are pushing to redivide the seabed in order to facilitate petroleum exploration.

read source article
turkmenistan

Turkmenistan Open to Closer Ties with US

In a meeting on Wednesday with the commander of US troops in the region, Turkmen President Berdymukhammedov announced that he was willing to cooperate with the United States, and is open to building a pipeline across the Caspian Sea to carry natural gas to the West. They also agreed to cooperate on efforts to stabilize Afghanistan. The US hopes these promising talks will lead to Turkmen gas being sent to the West.

In a meeting on Wednesday with the commander of US troops in the region, Turkmen President Berdymukhammedov announced that he was willing to cooperate with the United States, and is open to building a pipeline across the Caspian Sea to carry natural gas to the West. They also agreed to cooperate on efforts to stabilize Afghanistan. The US hopes these promising talks will lead to Turkmen gas being sent to the West.

read source article
turkmenistan

Turkmenistan and Azerbaijan to Cooperate on Oil Exploration

After ten years of animosity, Turkmenistan and Azerbaijan have announced their cooperation on a joint exploration of an offshore Caspian Sea oil field. This follows last week's joint decision to create an intergovernmental commission on bilateral cooperation, and the reestablishment of the Turkmen embassy in Baku. Analysts believe that Turkmenistan's actions are a move to gain a potential advantage over energy rival Iran in the Caspian Sea.

After ten years of animosity, Turkmenistan and Azerbaijan have announced their cooperation on a joint exploration of an offshore Caspian Sea oil field. This follows last week's joint decision to create an intergovernmental commission on bilateral cooperation, and the reestablishment of the Turkmen embassy in Baku. Analysts believe that Turkmenistan's actions are a move to gain a potential advantage over energy rival Iran in the Caspian Sea.

read source article
turkmenistan

Central Asia Plan Seeks to Diversify Energy, Despite Human Rights

Many feel the European Union's Central Asia Plan, a move to diversify energy supplies by establishing closer ties with Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan, will receive a stamp of approval at the EU meeting in Brussels later this week. The plan will likely boost the economies of the aforementioned nations, but the measure must first get past Human Rights groups who decry support for the nations because of their histories of human rights abuses.

Many feel the European Union's Central Asia Plan, a move to diversify energy supplies by establishing closer ties with Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan, will receive a stamp of approval at the EU meeting in Brussels later this week. The plan will likely boost the economies of the aforementioned nations, but the measure must first get past Human Rights groups who decry support for the nations because of their histories of human rights abuses.

read source article
turkmenistan

Turkmenistan and Iran to Strengthen Ties

After meeting with Turkmen President Berdymukhammedov over the weekend, Iranian Presdent Ahmadinejad announced that the two countries would be strengthening economic and social ties. They decided to increase cooperation in the energy, agriculture, transportation, and science sectors.

After meeting with Turkmen President Berdymukhammedov over the weekend, Iranian Presdent Ahmadinejad announced that the two countries would be strengthening economic and social ties. They decided to increase cooperation in the energy, agriculture, transportation, and science sectors.

read source article
turkmenistan

Russia's Lukoil Allowed to Produce in Turkmen Caspian Region

Lukoil, Russia's largest oil company, is reported to have reached a deal with Turkmenistan's government to work three oil fields in the Caspian Sea. This is yet another indication of the change in Turkmen policy toward opening up to foreign oil exploration following the death of isolationist President Saparmurat Niyazov. Lukoil would become the third company producing on the Caspian shelf along with Malaysia's Petronas and the United Arab Emirates' Dragon Oil.

Lukoil, Russia's largest oil company, is reported to have reached a deal with Turkmenistan's government to work three oil fields in the Caspian Sea. This is yet another indication of the change in Turkmen policy toward opening up to foreign oil exploration following the death of isolationist President Saparmurat Niyazov. Lukoil would become the third company producing on the Caspian shelf along with Malaysia's Petronas and the United Arab Emirates' Dragon Oil.

read source article
turkmenistan

TNK-VR Petroleum Courts Turkmenistan's Natural Resources

Top officials of the TNK-VR Russian-British Petroleum Company met with the president of Turkmenistan with hopes of gaining his favor for future projects. President Berdymuhammedov discussed Turkmenistan's renewed interest and work towards creating a favorable environment for attracting foreign investors, while TNK-VR revealed its plans to develop Turkmenistan's hydrocarbon reserves. The results of the meeting were positive, and TNK-VR declared their readiness to invest in Turkmenistan.

Top officials of the TNK-VR Russian-British Petroleum Company met with the president of Turkmenistan with hopes of gaining his favor for future projects. President Berdymuhammedov discussed Turkmenistan's renewed interest and work towards creating a favorable environment for attracting foreign investors, while TNK-VR revealed its plans to develop Turkmenistan's hydrocarbon reserves. The results of the meeting were positive, and TNK-VR declared their readiness to invest in Turkmenistan.

read source article
turkmenistan

Turkmenistan to Reopen Embassy in Azerbaijan

After a six-year absence, Turkmenistan is reopening its embassy in Azerbaijan in response to an agreement made last weekend between the two presidents. Turkmenistan originally pulled out due to disagreements over ownership of the oil rich deposits beneath the Caspian Sea. This recent development shows improvement and promise for future strengthening of economic ties.

After a six-year absence, Turkmenistan is reopening its embassy in Azerbaijan in response to an agreement made last weekend between the two presidents. Turkmenistan originally pulled out due to disagreements over ownership of the oil rich deposits beneath the Caspian Sea. This recent development shows improvement and promise for future strengthening of economic ties.

read source article
turkmenistan

Turkmenistan to Diversify Gas Exports

President Berdymuhammedov announced that Turkmenistan's gas exports will be opened up to all interested countries. Right now, most gas is sold to Russia through the Central Asia-Centre pipeline, and it is expected to continue since Turkmenistan is only producing enough gas to honor those contracts with Russia. Since Turkmenistan has not declared what reserves it has, nor has it granted buyers free access to information, it is unlikely that this diversification will happen any time soon.

President Berdymuhammedov announced that Turkmenistan's gas exports will be opened up to all interested countries. Right now, most gas is sold to Russia through the Central Asia-Centre pipeline, and it is expected to continue since Turkmenistan is only producing enough gas to honor those contracts with Russia. Since Turkmenistan has not declared what reserves it has, nor has it granted buyers free access to information, it is unlikely that this diversification will happen any time soon.

read source article
turkmenistan

Turkmen President to Meet with Azeri, Georgian, and Uzbek Leaders

Turkmenistan's president has meetings scheduled with the leaders of Uzbekistan, Georgia, and Azerbaijan while attending the Commonwealth of Independent States (CIS) in St. Petersburg. This is the first time in several years that Turkmenistan has chosen to participate in the cooperative talks of the CIS due to the previous president's isolationist policies. The countries hope to discuss several big integration projects, such as the Caspian gas pipeline.

Turkmenistan's president has meetings scheduled with the leaders of Uzbekistan, Georgia, and Azerbaijan while attending the Commonwealth of Independent States (CIS) in St. Petersburg. This is the first time in several years that Turkmenistan has chosen to participate in the cooperative talks of the CIS due to the previous president's isolationist policies. The countries hope to discuss several big integration projects, such as the Caspian gas pipeline.

read source article
turkmenistan

Energy, Transport Issues Raised at Turkmen-Georgian Talks

A Georgian delegation was met yesterday at the Turkmen presidential palace by President Gurbanguly Berdimuhammedov for a round of talks on parliamentarism, bilateral cooperation, and humanitarian issues. Of particular importance were discussions on fuel-energy and transport-communication, highlighted by talks of opening the Turkmen-Georgian Air Corridor, as well as alternate energy carrier routes from Turkmenistan to European markets. Observers heralded the talks as very constructive.

A Georgian delegation was met yesterday at the Turkmen presidential palace by President Gurbanguly Berdimuhammedov for a round of talks on parliamentarism, bilateral cooperation, and humanitarian issues. Of particular importance were discussions on fuel-energy and transport-communication, highlighted by talks of opening the Turkmen-Georgian Air Corridor, as well as alternate energy carrier routes from Turkmenistan to European markets. Observers heralded the talks as very constructive.

read source article
turkmenistan

Dragon Oil Investing in Turkmenistan's Oil Infrastructure

The Turkmen President has approved the building of a facility for the utilization of satellite oil gas. Dragon Oil, an Arab-British company, is ready to spend USD 500 million on the development of Turkmenistan's oil infrastructure, hoping to increase yearly oil output from 1.5 million tons this year to 2.8 million tons by 2010. The plan calls for construction of new wells, oil transportation systems, and reconstruction of an oil terminal.

The Turkmen President has approved the building of a facility for the utilization of satellite oil gas. Dragon Oil, an Arab-British company, is ready to spend USD 500 million on the development of Turkmenistan's oil infrastructure, hoping to increase yearly oil output from 1.5 million tons this year to 2.8 million tons by 2010. The plan calls for construction of new wells, oil transportation systems, and reconstruction of an oil terminal.

read source article
turkmenistan

Turkmenistan to Resume CIS Cooperation

Turkmenistan's President, Gurbanguly Berdymuhammedov, has declared that the country will resume cooperation with the Commonwealth of Independent States (CIS) and is keen on reviving economic links with other CIS countries. Turkmenistan withdrew from the CIS in 1995 and became an associate member, isolating itself and only infrequently taking part in CIS functions. While there is speculation that the country may wish to rejoin the CIS, the government has not declared any such intentions. Turkmenistan is in need of foreign assistance to upgrade its petroleum infrastructure and rebuild its educational system.

Turkmenistan's President, Gurbanguly Berdymuhammedov, has declared that the country will resume cooperation with the Commonwealth of Independent States (CIS) and is keen on reviving economic links with other CIS countries. Turkmenistan withdrew from the CIS in 1995 and became an associate member, isolating itself and only infrequently taking part in CIS functions. While there is speculation that the country may wish to rejoin the CIS, the government has not declared any such intentions. Turkmenistan is in need of foreign assistance to upgrade its petroleum infrastructure and rebuild its educational system.

read source article
turkmenistan

Turkmen Agro-Industrial Complex Gets Technical Renovation

The Turkmen Agro-Industrial Complex (AIC) received two thousand new machines to add to its fleet. The AIC received almost USD 54 million dollars worth of tillage and intertillage tractors as well as plows from Belarus. In this year alone, the AIC has purchased one-third the amount of total machines purchased over all the years spanning Turkmenistan's independence. These new purchases reflect the high technical fleet growth rate.

The Turkmen Agro-Industrial Complex (AIC) received two thousand new machines to add to its fleet. The AIC received almost USD 54 million dollars worth of tillage and intertillage tractors as well as plows from Belarus. In this year alone, the AIC has purchased one-third the amount of total machines purchased over all the years spanning Turkmenistan's independence. These new purchases reflect the high technical fleet growth rate.

read source article
turkmenistan

Turkmen Liquefied Gas Deliveries to Iran Sped Up by New Terminal

Iran's Pars energy company has built a USD 4.465 million liquefied gas storage and shipping terminal in the Turkmen city of Sarahs. With a storage capacity of 2,200 cubic meters, the terminal can fill 8 railway- or truck-mounted tanks at one time. This new terminal is expected to increase the speed of fuel deliveries to neighboring countries and help Turkmenistan export its products to various markets. The Sarahs location is advantageous due to its proximity to a junction of Turkmen and Iranian railways.

Iran's Pars energy company has built a USD 4.465 million liquefied gas storage and shipping terminal in the Turkmen city of Sarahs. With a storage capacity of 2,200 cubic meters, the terminal can fill 8 railway- or truck-mounted tanks at one time. This new terminal is expected to increase the speed of fuel deliveries to neighboring countries and help Turkmenistan export its products to various markets. The Sarahs location is advantageous due to its proximity to a junction of Turkmen and Iranian railways.

read source article
turkmenistan

Turkmenistan Looks for Cooperation with Kazakhstan

The presidents of Turkmenistan and Kazakhstan met this week to intensify the economic relations between the two natural resource rich countries. They spoke of development projects such as a railway and land route between the two nations, which would continue on through Russia and Europe. Also important in their talks was the role of Kazakh companies in developing Turkmen resources.

The presidents of Turkmenistan and Kazakhstan met this week to intensify the economic relations between the two natural resource rich countries. They spoke of development projects such as a railway and land route between the two nations, which would continue on through Russia and Europe. Also important in their talks was the role of Kazakh companies in developing Turkmen resources.

read source article
turkmenistan

Turkmenistan Discusses Energy with US

The US first deputy Assistant Secretary of State recently visited President of Turkmenistan Gurbanguly Berdymuhammedov to discuss cooperation in the energy sector. The US welcomed the opportunity to see the country in its new stage of development, and dicussed the social and economic reforms, as well as steps toward economic cooperation. Specifically, the US made certain that Turkmenistan was aware of the interest of American companies in participating in upcoming projects in the energy sector. The US hopes this meeting will help advance a dialogue between the two countries.

The US first deputy Assistant Secretary of State recently visited President of Turkmenistan Gurbanguly Berdymuhammedov to discuss cooperation in the energy sector. The US welcomed the opportunity to see the country in its new stage of development, and dicussed the social and economic reforms, as well as steps toward economic cooperation. Specifically, the US made certain that Turkmenistan was aware of the interest of American companies in participating in upcoming projects in the energy sector. The US hopes this meeting will help advance a dialogue between the two countries.

read source article
turkmenistan

Caspian Gas Pipeline Construction to Start in 2008

Following meetings between Russian and Kazakh Prime Ministers Mikhail Fradkov and Karim Masimov, the signing date for the official agreement to construct a new Caspian gas pipeline has been set. The pipe will run through Uzbekistan, Turkmenistan, Kazakhstan, and on to Russia. Officials first agreed on the pipe in mid-May and the official signing will take place on September 1. Construction will begin during the second half of 2008. The pipeline is expected to boost gas transit by 12 billion cubic meters by 2012.

Following meetings between Russian and Kazakh Prime Ministers Mikhail Fradkov and Karim Masimov, the signing date for the official agreement to construct a new Caspian gas pipeline has been set. The pipe will run through Uzbekistan, Turkmenistan, Kazakhstan, and on to Russia. Officials first agreed on the pipe in mid-May and the official signing will take place on September 1. Construction will begin during the second half of 2008. The pipeline is expected to boost gas transit by 12 billion cubic meters by 2012.

read source article
turkmenistan

New Era of Cooperation Between Turkmenistan and Kazakhstan

Turkmenistan's new president made his first official visit to Kazakhstan this week resulting in a new phase of neighborly cooperation between the two countries. This meeting reflects Turkmenistan's new movement towards progress and openness. The two presidents discussed and signed new bilateral agreements concerning economic, commercial, technical, and cultural cooperation until 2020. They also dicussed several joint investment projects, including a North-South railway through both countries and the Caspian gas pipeline. This relationship will be key in the coming years as more natural resources are being found in Turkmenistan.

Turkmenistan's new president made his first official visit to Kazakhstan this week resulting in a new phase of neighborly cooperation between the two countries. This meeting reflects Turkmenistan's new movement towards progress and openness. The two presidents discussed and signed new bilateral agreements concerning economic, commercial, technical, and cultural cooperation until 2020. They also dicussed several joint investment projects, including a North-South railway through both countries and the Caspian gas pipeline. This relationship will be key in the coming years as more natural resources are being found in Turkmenistan.

read source article
turkmenistan

Turkmenistan Invites Foreign Tourism

Under the power of a new president, Kurbanguly Berdymukhamedov, Turkmenistan is now opening its doors to foreign tourists. In order to attract foreign investors, the President has promised an investment of USD1 billion to developments on the Caspian coast, and has loosened up visa restrictions which have isolated the country for the last 21 years. More importantly, the President is declaring the Caspian coast a free economic zone to encourage foreign investment. These measures hope to pump more money into the economy, both through increases in tourism and foreign investments.

Under the power of a new president, Kurbanguly Berdymukhamedov, Turkmenistan is now opening its doors to foreign tourists. In order to attract foreign investors, the President has promised an investment of USD1 billion to developments on the Caspian coast, and has loosened up visa restrictions which have isolated the country for the last 21 years. More importantly, the President is declaring the Caspian coast a free economic zone to encourage foreign investment. These measures hope to pump more money into the economy, both through increases in tourism and foreign investments.

read source article
turkmenistan

Caspian Gas Pipeline Construction Will Begin in 2008

Kazakhstan, Russia, and Turkmenistan have agreed to work together in building the Caspian Gas pipeline. The presidents of each country have instructed their governments to draw up and sign an agreement by September 1, 2007. All three nations plan on beginning construction during the second half of 2008.

Kazakhstan, Russia, and Turkmenistan have agreed to work together in building the Caspian Gas pipeline. The presidents of each country have instructed their governments to draw up and sign an agreement by September 1, 2007. All three nations plan on beginning construction during the second half of 2008.

read source article
turkmenistan

China and Turkmenistan Sign Contract on Natural Gas Exploration

China National Petroleum Corp (CNPC), China's biggest oil and gas producer, wins the competition against Russia and signs a $ 1.5 billion contract with Turkmenistan on natural gas exploration. Based on this agreement, the Central Asian will provide 30 billion cubic meters of gas to China every year. Experts say this contract will not influence the cooperation between Russia and Turkmenistan on gas.

China National Petroleum Corp (CNPC), China's biggest oil and gas producer, wins the competition against Russia and signs a $ 1.5 billion contract with Turkmenistan on natural gas exploration. Based on this agreement, the Central Asian will provide 30 billion cubic meters of gas to China every year. Experts say this contract will not influence the cooperation between Russia and Turkmenistan on gas.

read source article
turkmenistan

Russian Pipeline Deal Detrimental to US, EU

The presidents of Russia, Kazakhstan, and Turkmenistan reached a deal that will allow Russia access to gas from the Caspian Sea, effectively negating a rival, US-backed pipeline deal. While the deal is of significant economic benefit to Russia and the two ex-Soviet satellites, it will greatly increase the EU's dependence on Russian gas. The leverage Russia derives from its massive oil and gas reserves has long been of growing concern to EU officials.

The presidents of Russia, Kazakhstan, and Turkmenistan reached a deal that will allow Russia access to gas from the Caspian Sea, effectively negating a rival, US-backed pipeline deal. While the deal is of significant economic benefit to Russia and the two ex-Soviet satellites, it will greatly increase the EU's dependence on Russian gas. The leverage Russia derives from its massive oil and gas reserves has long been of growing concern to EU officials.

read source article
turkmenistan

All Eyes on Turkmenistan

President Saparmurat Niyazov's death in December has created a void in Turkmenistan. International powers have been quick to step in, wondering whether a timely move now will see them reaping benefits from the natural-gas rich country later. Whimsical and unreliable, Niyazov had always emphasized Turkmenistan's neutrality, which acting President Gurbanguly Berdymuhammedov continues to highlight. Berdymukhamedov will almost certainly be elected President on February 11, but will his election bring about much-needed changes in economic policy?

Turkmenistan Post-Niyazov

At a recent roundtable on Turkmenistan organized by the Carnegie Center in Moscow, experts observed the poor chances of success of the opposition in a country where dissent has been stifled and the public deliberately kept misinformed.1 In the last presidential elections in 2004, there was virtually no opposition. Presidential elections are scheduled for the 11th of February, and while the candidates have announced plans and reforms, nothing seems particularly promising. While the candidates concede that not all is well in the Turkmen economy, no one has boldly come forward criticizing Niyazov or proposing anything different. Berdymuhammedov has promised to tackle pension reforms –pensions were abolished a decade earlier – and honor all existing energy contracts.

The Energy Game

Turkmenistan may have the world's fifth largest reserves of natural gas, but it has to take necessary precautions to ensure that there is export diversification. Russia is one of the largest buyers of Turkmen natural gas, indulging in profitable wholesale buying and reselling of Turkmen gas. Europe too is looking for alternatives to reduce energy dependence on Russia. But infrastructural constraints mean that dealing with European buyers directly is not a realistic target at the moment, and there is concerted Russian effort to stymie efforts aimed at excluding it from an energy pipeline to Europe. Turkmenistan can afford to look at two huge buyers within the continent. Turkmen oilfields are set to be the focal point of a tussle between Russia and China. The China National Petroleum Corporatio recently won a $150 million drilling contract, much to Gazprom's discontent.2 Not to be left behind, India hopes that the ambitious Trans-Afghanistan pipeline will end up in its territory after crossing Pakistan.

Need for Agricultural Reform

But is all the talk about energy ignoring some important issues? Apart from energy, another Turkmen advantage has traditionally been in cotton. But there has been a huge decline in cotton production over the past few years. In a country where a majority of the population is still associated with agriculture, the new government would do well to pay attention to this sector of the economy. Berdymukhamedov has promised to take steps to modernize and reform Turkmen agriculture, focusing on increased fertilizer production and the introduction of modern machinery and new technology.3 Last year, there were reports of falsification in agricultural data from provincial sources to cover up the shortfalls in sowing and production. Foreign revenues are being generated by fuel reserves, but poor harvests and lack of encouragement for agriculture could result in food shortages.

The Future

Niyazov's departure offers a realistic chance for reform. Turkmenistan needs to take advantage of the interest being shown by various countries willing to pay more to reduce Russia's role, or as a bargaining ploy to make it pay higher for buying Turkmen gas. Turkmenistan must realize its potential in the energy and agricultural sectors. It is about time that the government took note of the fact that three-fifths of the population is below the poverty line and a similar proportion unemployed.4

 

This article was originally published in Asia Economic Institute Vol. 1 No. 5.

 

Tell us what you think about this issue by adding a comment.

President Saparmurat Niyazov's death in December has created a void in Turkmenistan. International powers have been quick to step in, wondering whether a timely move now will see them reaping benefits from the natural-gas rich country later. Whimsical and unreliable, Niyazov had always emphasized Turkmenistan's neutrality, which acting President Gurbanguly Berdymuhammedov continues to highlight. Berdymukhamedov will almost certainly be elected President on February 11, but will his election bring about much-needed changes in economic policy?

Turkmenistan Post-Niyazov

At a recent roundtable on Turkmenistan organized by the Carnegie Center in Moscow, experts observed the poor chances of success of the opposition in a country where dissent has been stifled and the public deliberately kept misinformed.1 In the last presidential elections in 2004, there was virtually no opposition. Presidential elections are scheduled for the 11th of February, and while the candidates have announced plans and reforms, nothing seems particularly promising. While the candidates concede that not all is well in the Turkmen economy, no one has boldly come forward criticizing Niyazov or proposing anything different. Berdymuhammedov has promised to tackle pension reforms –pensions were abolished a decade earlier – and honor all existing energy contracts.

The Energy Game

Turkmenistan may have the world's fifth largest reserves of natural gas, but it has to take necessary precautions to ensure that there is export diversification. Russia is one of the largest buyers of Turkmen natural gas, indulging in profitable wholesale buying and reselling of Turkmen gas. Europe too is looking for alternatives to reduce energy dependence on Russia. But infrastructural constraints mean that dealing with European buyers directly is not a realistic target at the moment, and there is concerted Russian effort to stymie efforts aimed at excluding it from an energy pipeline to Europe. Turkmenistan can afford to look at two huge buyers within the continent. Turkmen oilfields are set to be the focal point of a tussle between Russia and China. The China National Petroleum Corporatio recently won a $150 million drilling contract, much to Gazprom's discontent.2 Not to be left behind, India hopes that the ambitious Trans-Afghanistan pipeline will end up in its territory after crossing Pakistan.

Need for Agricultural Reform

But is all the talk about energy ignoring some important issues? Apart from energy, another Turkmen advantage has traditionally been in cotton. But there has been a huge decline in cotton production over the past few years. In a country where a majority of the population is still associated with agriculture, the new government would do well to pay attention to this sector of the economy. Berdymukhamedov has promised to take steps to modernize and reform Turkmen agriculture, focusing on increased fertilizer production and the introduction of modern machinery and new technology.3 Last year, there were reports of falsification in agricultural data from provincial sources to cover up the shortfalls in sowing and production. Foreign revenues are being generated by fuel reserves, but poor harvests and lack of encouragement for agriculture could result in food shortages.

The Future

Niyazov's departure offers a realistic chance for reform. Turkmenistan needs to take advantage of the interest being shown by various countries willing to pay more to reduce Russia's role, or as a bargaining ploy to make it pay higher for buying Turkmen gas. Turkmenistan must realize its potential in the energy and agricultural sectors. It is about time that the government took note of the fact that three-fifths of the population is below the poverty line and a similar proportion unemployed.4

 

This article was originally published in Asia Economic Institute Vol. 1 No. 5.

 

Tell us what you think about this issue by adding a comment.

read source article

editor picks 

Other Important News In Turkmenistan


Turkmen Businesses Experiencing Decrease In Trade

Turkmen entrepreneurs have been influenced by the global economic crisis.

Turkmen entrepreneurs have been influenced by the global economic crisis. According to reports Turkmen business experts have reported that trade turnover by small business entities has decreased by 20 to 30 percent since the fall. The influx of labor migrants from Russia and Turkey has also contributed to the rise in the country's unemployment figures. Turkemn President Gurbanguly Berdymukhammedov announced last week that the Turkmenistan economy has been deeply impacted by the global financial crisis.

read source article

Political Stability Can Be Achieved Through Economic Means: Turkmen President

Turkmenistan President, Gurbangulu Berdymuhamedov, believes that political stability can be achieved through economic measures

Turkmenistan President, Gurbangulu Berdymuhamedov, believes that political stability can be achieved through economic measures. This statement was announced at the Economic Cooperation Operation summit in Teheran. Turkmenistan is participating at the summit as an associate member. The nation has reaffirmed the commitments and agreements reached prior to the implementation of major joint projects. Since joining ECO, Turkmenistan has introduced a number of initiatives such as energy security, water and energy issues, and transport and communication corridors. Some of the strategic initiatives includes diversifying the energy and transport infrastructures such as a railway construction between Kazakhstan, Turkmenistan and Iran.

read source article

Turkmenistan to Raise Maternity and Disability Allowances Starting 1 July

Turkmenistan is seeking to increase maternity and disability allowances starting 1 July.

Turkmenistan is seeking to increase maternity and disability allowances starting 1 July. Turkmen President Gurbanguly Berdimuhamedov signed the law for social welfare. The law has been published in the central print media of Turkmenistan. The newly instated law would raise the maternity grant amounts as well as a monthly maternity allowance. The increased amount will be paid to mothers with under 3-year old children, previously under 1.5 year age limit. Other amendments also include raised allowances to disabled people of 1st, 2nd and 3rd groups of disability.

read source article

Turkmens Seek Investors for Agriculture Sector

The Turkmenistan Agricultural Sector is looking for private investment, in order to boost productivity.

The Turkmenistan Agricultural Sector is looking for private investment, in order to boost productivity. President Gurbanguli Berdymukhamedov's remarks mark a significant change in economic policies from his autocratic predecessor. The announcement for private investment is aimed towards decreasing government funding and improve the conditions for private involvement. Since President Berdymukhamedov has come to power Turkmenistan is still ranked 169th out of 179 countries in the U.S. Based Heritage Foundation's index of economic freedom. The President is seeking investments in all agricultural sectors including cotton, wheat, cultivation of crops, including vegetables and fruits.

read source article

Turkmenistan's Yolotan-Osman Field Is a 'Super Giant'

Turkmenistan's Yolotan-Osman is said to be one of the largest undeveloped natural-gas field.

Turkmenistan's Yolotan-Osman is said to be one of the largest undeveloped natural-gas field. This news comes after the government commissioned to survey the country's reserves. The field is reported 75 kilometers long and 35 kilometers wide and has a gas column of 500 meters, potentially holding 6 trillion cubic meters of gas. The field has come into spotlight with gas importers competing for supplies from Turkmenistan. Several wells have been drilled with China, Iran and Russia receiving majority of the fuel. Currently, the largest gas deposit provider is North Field-South Pars controlled between Qatar and Iran.

read source article

U.S. Funds Border-Crossings In Turkmenistan

The United States has come to the aid of Turkmenistan to fund border-crossing stations to prevent smuggling.

The United States has come to the aid of Turkmenistan to fund border-crossing stations to prevent smuggling. The Turkmen border is said to be a key entry point for narcotics and other illegal materials such as radioactive, biological, and chemical agents. The U.S. Embassy spokesman said that the United States military has helped construct the border-crossing stations along Turkmenistan's borders with Iran and Afghanistan. The spokesman also stated that similar project is under way along the Turkmen-Uzbek border too. Each crossing stating is estimated to cost $5.5 million.

read source article

EBRD Says Turkmenistan Progressed Economically

Although there has been plenty of grim news coming out from global media outlets, Turkmenistan has said to have progressed economically according to the European Bank for Reconstruction and Development's (EBRD).

Although there has been plenty of grim news coming out from global media outlets, Turkmenistan has said to have progressed economically according to the European Bank for Reconstruction and Development's (EBRD). The transition reports that Turkmenistan is progressing in carrying out economic reforms, but does state that the country still has a long way to go in reforming and growing its private sector. One sector that has done well has been the gas-sector. Gas is the main GDP contributor and forecasts the GDP growth.

read source article

Energy Projects Need International Audit - Uzbek, Turkmen Leaders

On 25 February, Uzbek President Islam Karmov and Turkmen President Gurbanguly Berdimuhamedow stated that trans-border projects that include construction of power plants require international auditing.

On 25 February, Uzbek President Islam Karmov and Turkmen President Gurbanguly Berdimuhamedow stated that trans-border projects that include construction of power plants require international auditing. The call for international auditing has been called upon by Uzebek President Islam Karmov, who questions the benefits of the construction of power plants and the effects of building hydroelectric power plants on the Syrdarya and Amudarya rivers. The Turkmen President did not reject Islam Karmov's call for an objective view, instead, he too called for an international audit.

read source article

Russian Auto Giant Brought Back from Brink by Turkmenistan

Kamaz – Russian auto giant- has already stopped production three times since the onset of the global financial and economic crisis

Kamaz – Russian auto giant- has already stopped production three times since the onset of the global financial and economic crisis. The auto giant has re-started production due to a huge order from Turkemenistan; Turkemnistan has said to have ordered 1,040 vehicles with a total value of nearly $100 million. The ministry of Trade and Foreign Economic Relations shall purchase the vehicles and parts for the municipality of Ashgabat and provincial administrations. The order also aids in revamping Kamaz's image, where Kamaz trucks shall be featured during the Kazan-Ashgabat rally.

read source article

EU Weighs Image Energy in Relations with Turkmenistan

The Interim Trade Agreement (ITA) with Turkmenistan is said to have finally received the green light from the European Parliament.

The Interim Trade Agreement (ITA) with Turkmenistan is said to have finally received the green light from the European Parliament. The ITA had been blocked since 2006 by the European Parliament when Turkmenistan failed to improve its dismal human rights record. ITA has now been given clearance due to the disputes between Russia and Ukraine and the need for energy . Although members of the EU are advocating diversifying energy agreements the plan to unblock the ITA remains contentious in the EU.

read source article
most popular posts

Turkmenistan Exclusives

Browse More Exclusives