Turkmengaz and The Emirates ADNOC Intend to Work on The Development of The Galkynysh Gas Field
The parties signed a memorandum of understanding on cooperation in the development of this field.
Turkmengaz and the Abu Dhabi National Oil Company (ADNOC) signed a memorandum of understanding on cooperation in the development of the largest gas field in Turkmenistan – Galkynysh. The document was signed following the visit of Chairman of the People’s Council of Turkmenistan Gurbanguly Berdimuhamedov to the UAE, the official newspaper Neutral Turkmenistan reports.
The memorandum, the publication writes, assumes the parties’ intention to attract strategic partners for the development of the third stage of the Galkynysh field and their possible participation in the implementation of energy projects for the construction of gas pipeline infrastructure designed to supply natural gas to the countries of the region and other states. These companies signed another memorandum, according to which they will study the potential opportunities for scientific, technical and economic mutually beneficial cooperation in the field of reducing methane emissions into the atmosphere.
As part of the visit, Berdimuhamedov met with the chairman of the board of directors of Dragon Oil, Syed al Tayer. The company has been working on the Turkmen shelf of the Caspian Sea since 2000. Berdimuhamedov, the newspaper notes, during the meeting invited partners and investors from the UAE to participate in the implementation of new energy projects for the construction of gas pipeline infrastructure. As a result of the meeting, a memorandum of understanding was signed between the state concern Turkmennebit (Turkmennebit) and Dragon Oil, its contents are not specified.
The distinguished Turkmen guest also met with the commercial director of Dubai Aviation Corporation (Flydubai) Hamad Obaidalla. During the meeting, the parties discussed cooperation in the field of civil aviation and increasing the number of flights between the countries. As a result, a memorandum of understanding was signed between the airline from Dubai and the agency T rkmenhowa ollary (Turkmen Airlines) of the Agency of Transport and Communications under the Cabinet of Ministers of Turkmenistan. Another document – a cooperation agreement – was concluded by the State Bank for Foreign Economic Affairs of Turkmenistan and First Abu Dhabi Bank.
The Galkynysh field in Turkmenistan has been in operation since 2013. Its area exceeds 5 thousand square meters. km, reserves are estimated at 27.4 trillion cubic meters. m of gas. Currently, it is planned to develop the second stage of the field, which involves increasing the supply of Turkmen gas to China from 40 to 60 billion cubic meters. m annually. The development of the third stage is expected to become a source of supplies via the TAPI gas pipeline (Turkmenistan – Afghanistan – Pakistan – India).
