EBRD Identifies Key Risks In Turkmenistan's Gas Export Plans
Date
12/1/2024 10:08:19 PM
(MENAFN- Trend News Agency)
BAKU, Azerbaijan, December 2. The European Bank
for Reconstruction and Development (EBRD) has emphasized the
importance of diversifying Turkmenistan's gas exports to maintain
economic growth, Trend reports.
According to the bank's outlook, the country is facing economic
risks associated with its heavy reliance on China, which currently
accounts for over 70% of Turkmen gas exports.
"A recently signed memorandum of understanding with Türkiye
hints at potential access to European Union markets, while progress
on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline
could unlock opportunities in the expansive South Asian market,"
the EBRD said.
A new law on energy saving and efficiency, introduced this year,
is also expected to bolster the country's energy resilience, the
outlook noted. The legislation promotes the adoption of
energy-efficient technologies, rational use of resources, and
enhanced energy savings, laying the foundation for sustainable
development in the energy sector.
Meanwhile, the EBRD projected Turkmenistan's real GDP growth at
a steady 6.3% for both 2024 and 2025, underpinned by investments in
infrastructure, energy, and services. According to official data,
the economy expanded by 6.3% year-on-year in the first seven months
of 2024, driven by government-led initiatives and increased
activity in the construction and services sectors.
MENAFN01122024000187011040ID1108944361
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.