Turkmenistan Economic News
Turkmenistan, China Discuss Gas Supply Increase
During intergovernmental talks in Beijing held on July 25 -28, Turkmenistan and China discussed expansion of their cooperation in the fuel-energy sector, the Turkmen government said on July 31. The parties paid particular attention to increasing the volumes of Turkmen gas supplies to China to 65 billion cubic meters a year. Baymurad Hojamuhammedov, the country's deputy prime minister responsible for Turkmen oil and gas represented Turkmenistan. Turkmenistan is China's major gas supplier in Central Asia. The pipeline, commissioned in December of 2009, runs through Uzbekistan and Kazakhstan. The project was China's first energy corridor designed to import foreign natural gas.
Russian MTS to Renew Activities in Turkmenistan
Russian mobile operator Mobilnie TeleSistemy (MTS) has renewed its operation in Turkmenistan after more than a one year hiatus, reported the company’s press-service. MTS signed an agreement on the working conditions for its subsidiary in Turkmenistan with the State Communication agency Turkmentelecom. The five year agreement with the possibility of a five year extension, was signed in accordance with the order of President Berdymukhamedov. According to the agreement, MTS-Turkmenistan is to pay Turkmentelecom 30% of their net profits calculated in accordance with accountancy rules of Turkmenistan.
On July 25, 2012, MTS and its subsidiary BCTI, Turkmenistan’s Ministry of Communications, and Turkmen national mobile operator Altyn Asyr, signed a settlement agreement resolving complaints about the termination of the work of MTS in Turkmenistan in December 2010. According to the company’s statement, MTS’s infrastructure in Turkmenistan will enable the company to provide services for more than 2.4 million users.
At the end of 2010, the Turkmen Ministry of Communications suspended the license of MTS subsidiary Barash Communications Technologies (BCTI) for one month and later revoked it completely. The Ministry justified the revocation by explaining that the five year agreement with MTS was finished. According to that agreement MTS paid the Turkmen authorities 20% of their net profits. The Ministry also demanded that BCTI annul all of its contracts with users, settle its bills and dismantle its equipment. MTS filed a number of law suits again Turkmenistan and evaluated its damages at 585 million USD. In May 2012 representatives of the financial group Sistema, an MTS major shareholder, was able to negotiate with the Turkmen government the conditions for renewal of MTS activities in Turkmenistan.
Turkmenistan, ADB to Present TAPI Project in Singapore, New York and London
During the next meeting of the technical working group of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline construction project, to be held in Ashgabat in August, the participants will discuss organizing a world business tour to present TAPI this autumn, the Turkmen government said on July 30. A business tour for TAPI is planned to cover Singapore, New York, and London, the biggest business and financial centers of South-East Asia, America, and Europe, during 18-20 days in September and October. Several meetings will be held with representatives of leading international oil, gas companies and financial institutions within the business tour to attract them to participate in the project. The representatives of Afghanistan, Pakistan, India, Turkmenistan, and the Asian Development Bank (ADB) will participate in the TAPI project presentation.
Turkmenistan to Inform Investors on Strategy to Promote Direct Foreign Investment
The fourth Turkmenistan Investment Forum, organized by Turkmenistan’s Chamber of Commerce and Summit Trade Events Ltd (UK) will be held on October 17-19, 2012 in Ashgabat, the UK company said on July 26. This event was the initiative of President of Turkmenistan in 2009 and is supported by the government of Turkmenistan.
The forum aims to highlight investment opportunities for the development of the national economy, an effective international partnership and provide forum members up to date information on the strategy of the Government to promote direct foreign investment, and the current status of the business climate in Turkmen
Turkmenistan Develops New Gas Condensate Fields
Turkmenistan has started commercial development of the Babarap new gas and condensate field in the northern part of the Lebap region of the country, the state concern Turkmengaz said on July 27. The first two starting wells were commissioned recently. More than 300,000 cubic meters of natural gas are delivered into the gas artery daily from a depth of more than 3000 and about 40 tons of hydrocarbons condensate line. The Babarap field is the second gas producing area in Zaunguz Karakum. Previously, the new field of Kerven was commissioned, which produces up to 700,000 cubic meters of gas, as well as large volumes of condensate daily.
Turkmenistan plans to increase gas production in the territory of Zaunguz Karakum by up to 20 billion cubic meters in 2012, reported Turkmengas State Concern. In 2011, more than 18 billion cubic meters of gas was extracted in the territory compared to over seven billion cubic meters in 2008.
Source: trend.az, trend.az
Turkmenistan Develops Entrepreneurship in Agro-industrial Complex
Speaking about the importance of developing and promoting small and medium
business in various sectors of national economy, Turkmen President Gurbanguly Berdymukhamedov focused on entrepreneurship development in the agro-industrial complex, local media reported July 27. "Let people build small enterprises for processing products and dairy farms," the Turkmen president was quoted by the State News Agency TDH as saying. "Let them effectively develop cattle breeding. It is necessary to attract entrepreneurs, representatives from the private sector to conduct reforms in agriculture, to introduce new forms of work in rural areas, to give land to tenants for rent for a long-term period, to create all conditions for them to cultivate big harvest.”
Malaysia to Enhance Cooperation with Turkmenistan
On July 27, Turkmen President Gurbanguly Berdymukhamedov received Malaysian Foreign Minister Anifah Aman, reported Altyn Asyr TV. The parties expressed interest in steady multi-faceted cooperation, especially in the strategic energy sector, and stressed that the long term partnership between Turkmenistan and the largest Malaysian company Petronas Charigali is an example of the effective use of the existing capacity. Petronas Charigali carries out exploration and production of hydrocarbons in the Turkmen Caspian shelf and assists in training local specialists.
Turkmenistan, Russia to Discuss Economic Cooperation
Turkmenistan and Russia will discuss issues of economic cooperation during the sixth meeting of the Turkmen-Russian intergovernmental commission, to be held in Moscow on July 30-31, said an official Turkmen source. Rashid Meredov, deputy chairman of the Cabinet of Ministers and Foreign Minister of the country will head the Turkmen delegation.
Siemens to provide equipment for government communications in Turkmenistan
The Ministry of Communications of Turkmenistan is planning to sign a contract with Siemens Enterprise Communications GmbH & Co.KG. (FRG) from its own funds for the purchase and installation of IP-network communications equipment for the modernization of government communications, said an official Turkmen source.
Turkmenistan to Build 78 Bridges
President Gurbanguly Berdymukhamedov signed a decree “On designing and constructing bridges along highways,” according to official Turkmen sources. The decree envisions construction of 78 bridges, including 62 on highway Ashgabat – Turkmenbashi and 16 on Ashgabat – Mary. By 2014 Turkmenistan is to reconstruct its entire automobile road network and build new highways with all necessary infrastructure. Their total length will amount to 1700 kilometers.
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