(MENAFN- Trend News Agency) ASHGABAT, Turkmenistan, October 30. The Asian
Development bank (ADB) intends to invest in the field of renewable
energy sources in Turkmenistan, Trend reports.
This was stated by the Country Director of the Asian Development
Bank for Turkmenistan Artur Andrysiak at the 28th International
Conference and exhibition 'Oil and gas of Turkmenistan-2023'
(OGT-2023).
According to him, ADB also plans to invest in pilot projects
with low carbon emissions and reforms through loans to implement
certain policies, and the bank's overall goal is to turn
Turkmenistan into a more climate-resilient and competitive
economy.
He noted that ADB will continue to support projects in the field
of natural gas production in the midstream (transportation and
processing sector) and downstream (gas and oil refining sector)
segments, and also added that these investments will be coordinated
with a Long-term plan to ensure carbon neutrality.
Andrysiak stressed that ADB will continue its long-term
involvement in the energy sector of Turkmenistan, focusing on
reducing inefficiency and accelerating the low-carbon
transition.
The ADB country Director identified several key areas for
investment in Turkmenistan, including the conversion of open-cycle
gas installations into more efficient combined cycle gas turbines,
modernization of the electricity grid, increasing the share of
renewable energy sources by exploring the potential of solar and
wind energy, as well as support for electricity and gas exports and
market diversification.
Meanwhile, the international exhibition and conference "Oil and
Gas of Turkmenistan-2023" (OGT-2023) will be held in Ashgabat from
October 25 to October 27 this year.
The event will be attended by representatives of state and
international organizations, national and private oil and gas
companies, as well as experts from Azerbaijan, Türkiye, Kazakhstan,
the US, Russia, the UAE, China, Japan, Malaysia, the UK, Italy,
Cyprus, Spain, Germany, Switzerland, and Singapore.
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