Turkmengaz Discussed Development of Galkynysh Field With ADNOC and Hyundai
As reported by the Neutral Turkmenistan newspaper, the parties also discussed a wide range of issues related to the implementation of the third stage of the field development project
The management of the state concern Turkmengaz held meetings with representatives of ADNOC (United Arab Emirates) and Hyundai Engineering (Republic of Korea), discussing the development of the large Galkynysh gas field. This was reported by the official newspaper Neutral Turkmenistan.
At the talks, the ADNOC delegation, headed by the company’s Senior Vice President Abdullah Al Shamsi, discussed a wide range of issues related to the implementation of the third stage of the field development project. According to the publication, the UAE company expressed its readiness to work together with oil and gas companies of Kazakhstan. The Turkmengaz concern recalled that it has repeatedly expressed support for the involvement of private structures of neighboring states in the implementation of large gas projects in the republic.
The newspaper recalls that during the visits of Turkmen President Serdar Berdimuhamedov and Chairman of the Halk Maslahaty (upper house) of the parliament Gurbanguly Berdimuhamedov to the UAE in 2022-2024, documents were signed that defined specific areas and parameters of joint activities at this field. Now the parties are specifically considering the legal, commercial, investment, financial, technical and other components of the project.
The management of Turkmengaz discussed with the delegation of Hyundai Engineering headed by Senior Vice President Jung Song Yong the current state and prospects for the fourth phase of the field development. The South Korean side noted that Hyundai’s participation in the project will make it possible to use the broad potential of the enterprise in the energy sector.
The Galkynysh field in Turkmenistan has been in operation since 2013. Its area exceeds 5 thousand square kilometers, the reserves are estimated at 27.4 trillion cubic meters of gas. The second stage of development envisages an increase in supplies to China from 40 billion to 60 billion cubic meters annually. The third stage is expected to allow gas to be pumped through the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline.
