OREANDA-NEWS. May 05, 2010. The Energy Security Conference “Strengthening regional co-operation in Central Asia for promoting stable and reliable energy within Eurasia” closed in Ashgabat. The representative forum that brought together over 120 participants from different countries of the world became a new step to develop the international legal framework for reliable energy transit on the initiative of Turkmenistan.

It should be noted that the conference organized by the Ministry of Oil and Gas Industry and Mineral Resources of Turkmenistan and the Organization for Security and Cooperation in Europe once again illustrated that our country urging to develop the effective legal mechanisms for achieving reliable and stable energy supplies stood ready to place its rich hydrocarbon resources at the service of global energy security.

As is known, it was the Turkmen state to put forward the initiative to adopt the Resolution on the Reliable and Stable Transit of Energy and Its Role in Ensuring Sustainable Development and International Cooperation at the level of the UN General Assembly which was supported by 192 UN member states. This is the document of historical importance for building the global security system. That our country enjoys the high international authority in this work is explained not only by its authorship of this Resolution but also our transparent pragmatic approach, the reputation of a dependable partner as well as abundant hydrocarbon resources proved by the international audit.

The establishment of new pipeline infrastructure and protection of the existing ones that are of particular importance for energy producing, consuming and transit countries is a challenge to the world community. In this field Turkmenistan has made considerable progress. These include the Turkmenistan-China gas pipeline that was constructed and put into operation in the shortest period of time and the second branch of the pipeline supplying Turkmen ‘blue fuel’ to neighbouring Iran. International experts recognize the profound resource potential of our country. The Government of Turkmenistan makes substantial investments to develop hydrocarbon deposits. For example, about USD 10 billion have been invested to develop the largest gas field Southern Yoloten-Osman.

Turkmenistan invited countries and companies interested to cooperate on a mutually advantageous basis and seeking for new markets calls for reducing risks of energy transit to consuming countries. This constructive approach widely presented by the leader of the Turkmen state on the world arena, in particular during the session of the UN General Assembly was supported by the world community.

Our country undertaken undertook the commitments to further implement this initiative that will benefit all – energy producing, consuming and transit countries. The Turkmen capital provides an international platform discuss critical issues related promoting global energy market, designing and adopting advanced oil and gas technologies.

Thus, on the initiative of President Gurbanguly Berdimuhamedov Ashgabat hosted the high-level conference in 2009 that focused on the approaches to achieving security of pipeline infrastructure and reliable transit of energy to the world markets. The First International Gas Congress took place in Ashgabat this April providing the platform for ‘blue fuel’ producers and consumers to discuss the ways to address global energy challenges. The critical issues put on the forum agenda included attraction of foreign investments, outcomes and prospects for prospecting and extraction of hydrocarbon resources, oil refining and petrochemical industry and the role of oil and gas industry as a catalyst for progress.

The Energy Security Conference “Strengthening regional co-operation in Central Asia for promoting stable and reliable energy within Eurasia” in Ashgabat became a new step to implement the Turkmen leader’s initiative at a global level. During two days the conference participants discussed such topics as the role of the Eurasian continent in global energy security system, the principles and guidelines for building stable energy market and promotion of legal cooperation in this field. The urgent need to develop the relevant international framework was spotlighted by the fact that the second day was completely dedicated to this issue. Such important issues as the establishment of integrated energy market, interstate cooperation in the pipeline sector, protection of investments, harmonization of interests of energy producing and consuming countries and energy business.