Lukoil’s Strategic Interests in Turkmenisan

Via Times of Central Asia, a report on Lukoil’s strategic interests in Turkmenistan:

President of Turkmenistan Gurbanguly Berdymukhammedov on February 5 in Ashgabat received Vagit Alekperov, President of the largest Russian private oil company LUKOIL.

During the meeting, Alekperov said that LUKOIL has strategic interests in Turkmenistan, which has significant hydrocarbon reserves, the Russian company said in a press release.

The President of Turkmenistan and the head of LUKOIL exchanged views on the prospects of partnership given the existing potential and the plans for its implementation, the State News Agency of Turkmenistan reported.

Particular attention was paid to such key factors as the energy strategy of Turkmenistan, diversification of energy resources supplies to the world markets, increase of capacities of the production and processing segments, development of the gas, oil and chemical industry as well as production of high-technology products.

Alekperov briefed President Berdymukhammedov on LUKOIL’s activities in the field of development of hydrocarbon deposits in the Caspian Sea. According to the Russian businessman, Turkmenistan has established a favorable investment climate and the relevant legal framework, which allows effectively investing into the development of oil and gas fields, construction of infrastructure. Therefore, LUKOIL is interested in implementing projects in these areas.

Welcoming the initiatives of the Russian partners, the President of Turkmenistan suggested that the both sides work out the existing proposals together with the Türkmennebit (Turkmen Oil) and Türkmengaz (Turkmen Gas) State Concerns and submit them for consideration.

This entry was posted on Tuesday, February 11th, 2020 at 4:59 am and is filed under Lukoil, Russia, Turkmenistan.  You can follow any responses to this entry through the RSS 2.0 feed.  You can leave a response, or trackback from your own site. 

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Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.

Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.