OREANDA-NEWS. November 2, 2012. In Ashgabat, President of Turkmenistan Gurbanguly Berdimuhamedov met Igor Makarov, Chairman of the Board of Directors of ITERA International Group of Companies. The Head of ITERA, the company engaged in the delivery of a number of scale projects in the oil and gas and construction sectors of the country in cooperation with Turkmenian partners, congratulated President G. Berdymuhamedov with the Anniversary of Independence of Turkmenistan.

“ITERA International Group of Companies is willing to continue its assistance in implementation of significant projects of social and economic development of the country, and, in particular, its oil and gas industry. We wish you good health and every success in your arduous and important activity at the top political office, and peace, happiness and prosperity to the people of sunny Turkmenistan!” – said Igor Makarov, Head of ITERA Group, in his congratulatory message to President of Turkmenistan Gurbanguly Berdimuhamedov.

Igor Makarov noted that the unity and solidarity of the Turkmenian people, its consistent commitment to the long-standing national and spiritual values, and the State's policy of neutrality were a solid foundation of independence of Turkmenistan. ITERA Group President, Chairman of the Board of Directors, emphasized that Turkmenistan continued its rapid move forward; achieving new success in the development, and the country’s powerful economic potential had withstood a serious test of time and helped minimize the impact of the world economic crisis.

The meeting also focused on the progress in the performance by the Company of the Product Sharing Agreement in relation to Block 21 in the Turkmenian Sector of the Caspian Sea, as well as other issues of cooperation between ITERA and Turkmenian partners in the economic and social sectors.

ITERA International Group of Companies (ITERA Group) is a vertically integrated holding company, established in 1992, which includes dozens of enterprises and companies in CIS, Baltic countries, Western Europe, Asia and the USA. Gas business has been a core business of ITERA since 1994. ITERA Oil and Gas Company, a Group company, has been developing its own production of gas in the Yamalo-Nenets Autonomous District since 1998. It has invested over USD 2 billion into development of the gas industry. In aggregate, gas fields developed by ITERA produced over 250 billion cubic meters of natural gas, ITERA gas sales exceeded 600 billion cubic meters. Development, gas processing and power generation are also among strategic businesses of the Group.