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Forum to Attract Foreign Investment in Turkmenistan’s Energy Sector to be Held in Paris

The Forum to Attract Foreign Investments in Turkmenistan’s Energy Sector will take place on April 24th and 25th, 2024 in Paris. The Forum's organizers are the State Concerns Turkmengaz, Turkmennebit (Turkmen oil), and the State Corporation Turkmengeology in partnership with the Turkmen Forum and U.K.-based GaffneyCline, according to the official website of the event. The purpose of the Forum is to expand the opportunities for attracting foreign direct investment in all aspects of the energy industry of Turkmenistan, and to strengthen regional dialogue on further sustainable development of the energy sector. Upstream, midstream and downstream opportunities will also be addressed. The Forum will bring together leading national and international energy companies, as well as experts who shape the future of the oil and gas industry not only in Turkmenistan, but also in the wider region. Turkmenistan has repeatedly stated that increasing production and diversifying the export of its hydrocarbon resources is a priority task of the country’s oil and gas sector.

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Kazakhstan Approves SDGs Action Plan for 2024

The seventh meeting of the Coordinating Council for Sustainable Development Goals (SDGs) took place in Astana on January 5th, chaired by the Prime Minister of Kazakhstan, Alikhan Smailov. The meeting was attended by heads of government agencies and representatives from the United Nations, the United Nations Development Program (UNDP), and the European Union. At the meeting, updating the national SDG indicators, localizing SDGs in the regions, and preparing an annual report on the implementation of SDGs was discussed. Following the symposium, the SDG Coordinating Council approved an action plan for 2024. During the meeting, Prime Minister Smailov emphasized that the primary goal of the SDGs is to improve the quality of life of Kazakhstan's citizens by implementing advanced international standards. "In September of last year, the Head of State, Kassym-Jomart Tokayev participated in the United Nations SDG Summit,” Smailov said. “During his speech, the President emphasized that achieving SDGs is a top priority for the nation. As a result, Kazakhstan is always willing to collaborate with all Member States to pursue a more just and sustainable world." The UNDP Resident Representative in Kazakhstan, Sukhrob Khojimatov, highlighted two key areas the UNDP focused on in 2023. The first was the localization of SDGs within the framework of a regional program to establish an SDG Platform for Central Asia funded by the European Union. The second was the support provided by the UNDP to the Senate of the Parliament of Kazakhstan in creating a Parliamentary Commission for monitoring the implementation of national goals and objectives in the field of sustainable development. Johannes Baur, the Head of Cooperation at the EU Delegation to Kazakhstan, emphasized that in 2024 the EU and its member states have committed to supporting Kazakhstan's transition to a carbon-neutral economy by 2060. During this year, they will launch the implementation of the Team Europe initiative, which will focus on energy, water resources, and climate change in Central Asia. The initiative will receive a budget of €20 million. This cooperation will be extended through a new bilateral mechanism to facilitate the transition to a green economy and modernize Kazakhstan's emissions trading system.

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Turkmenistan and UAE to Expand Oil and Gas Cooperation

On January 4th and 5th, the National Leader of the Turkmen people, Chairman of the Halk Maslahaty (People’s Council) of Turkmenistan, Gurbanguly Berdimuhamedov made a working visit to the United Arab Emirates. On the 4th in Abu Dhabi, Berdimuhamedov had a meeting with the President of the UAE, Sheikh Mohamed bin Zayed Al Nahyan, during which they discussed the intensification of bilateral cooperation in a number of promising areas, the Turkmen Foreign Ministry stated. On the second day of the visit, in Dubai, the Berdimuhamedov held a meeting with the Chairman of the Board of Directors of Dragon Oil, Saeed Al Tayer, during which they discussed the possibility of expanding bilateral cooperation, taking into account the accumulated experience of prior joint work and Turkmenistan’s plans for the further development of its fuel and energy sector. Berdimuhamedov emphasized that the energy policy pursued by Turkmenistan aims at increasing the volume of production and refining of oil and natural gas, as well as exporting more energy resources and finished oil and gas chemical products. For that purpose, Turkmenistan is engaged in the construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, designed to give impetus to the socio-economic development of the entire region. The third stage in the development of Turkmenistan’s giant Galkynyş gas field is expected to become the source for ensuring the supply of natural gas through this pipeline. Berdimuhamedov invited partners and investors from the UAE to participate in the implementation of new energy projects for the construction of gas pipeline infrastructure intended for the export of Turkmenistan’s natural gas. During the visit, a Memorandum of Understanding was signed between the State Concern Türkmengaz and the Abu Dhabi National Oil Company (ADNOC), stating the intention of the parties to attract strategic partners for the development of the third stage of the Galkynyş field and their possible participation in the implementation of energy projects related to the construction of gas pipeline infrastructure.

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Kazakhstan and Uzbekistan to Increase Bilateral Trade

On January 5th, the Minister of Investment, Industry and Trade of Uzbekistan, Laziz Kudratov met with the Minister of Trade and Integration of Kazakhstan, Arman Shakkaliev in Tashkent. The officials discussed the implementation of investment agreements and trade contracts signed during the recent visit of the President of Kazakhstan to Uzbekistan, as well as the further development of trade and economic relations and industrial cooperation between the two countries, the Uzbek Ministry of Investment, Industry and Trade said. The parties noted a growth of bilateral trade, stating that over the past six years, trade turnover has grown almost 2.5-fold from $1.9 billion in 2016 to more than $4.6 billion in 2023. The sides agreed on a number of measures aiming to bring bilateral trade to $10 billion in the coming years. In particular, they have agreed to establish a joint working group on the removal of barriers to bilateral trade. The parties also expressed readiness to support the activities of a joint foreign trade company, UzKazTrade, which will include an online trading platform for the sale of a wide range of goods in the markets of both countries. The ministers exchanged views on the development of industrial cooperation, referring to the practical aspects of establishing an International Center for Industrial Cooperation, "Central Asia". An agreement was also reached on taking joint measures to accelerate the establishment of the center and launching its operations.

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Kazakhstan Seeks to Increase Investment Attractiveness of Exploration for Hydrocarbons

On December 28th, a law “On Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Subsoil Use and Ecology” was signed, which, among others, is aimed at increasing the investment attractiveness of geological exploration for hydrocarbons, encouraging investment in depleting deposits, and fixing the minimum amount of equity participation (50% or more) of the national company in the field of hydrocarbons in large deposits. In an address to the nation on September 1st, President Tokayev had stated that “Geological exploration requires special attention. In 2018, in order to replenish the mineral resource base, new legislation was adopted to manage the mining sector. However, it did not work in full. As a result, there have been no significant geological discoveries in our resource-rich country for a long time. This situation urgently needs to be rectified.” The relevant departments were then tasked with modernizing the mining sector management system as soon as possible, reducing the time-frame and procedures for approving projects by introducing comprehensive state expertise and the complete digitization of the process. The implementation of the law will give additional impetus to investment in geological exploration in the field of hydrocarbons in Kazakhstan, the Energy Ministry stated.

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Twelve Regional IT-Hubs Operating in Kazakhstan

The development of regional IT hubs is one of the priorities of the Ministry of Digital Development, Innovation and Aerospace Industry of Kazakhstan, the ministry stated on January 3rd. The goal of regional IT hubs is the development of innovative projects in the regions and the training of specialists in the field of information technology. These platforms are also a space for creating local IT communities, bringing together startups and investors. The main task of regional IT hubs is to help young entrepreneurs organize startup projects. President Kassym-Jomart Tokayev also spoke about the importance of expanding the innovation ecosystem at a regional level when delivering his Address to the Nation last year. Today, 12 regional IT-hubs are officially open and successfully functioning across Kazakhstan: Abai IT Valley (Semey, Abai Oblast), Kyzylorda Hub (Kyzylorda city), Digital Jetisu (Taldylkorgan city), Zhambyl Hub (Taraz city), Oskemen IT Hub (Oskemen city), Jaiq Hub (Uralsk city), Turkistan IT Hub (Turkistan city), Qostanai IT Hub (Qostanai city), Aqtobe IT Hub (Aqtobe city), Pavlodar Hub (Pavlodar city), Aqmola IT Hub (Kokshetau city), and Terricon Valley (Karaganda city). These IT-hubs have presented 194 promising startup projects from the regions.