BAKU, Azerbaijan, February 5
By Jeila Aliyeva - Trend:
Turkmenistan and the UAE have signed a number of memorandums of understanding on cooperation, Trend reports with reference to Turkmenistan’s Ministry of Foreign Affairs.
The memorandums were signed during the visit of the Turkmen delegation to the UAE.
The following memorandums were signed: the Memorandum of Understanding on Cooperation between the Government of Turkmenistan and Abu Dhabi Fund for Development (regarding the financing of projects in Turkmenistan); the Memorandum of Understanding on Cooperation between the Government of Turkmenistan and Abu Dhabi Fund for Development (regarding the establishment of investment companies in Turkmenistan); the Memorandum of Understanding Regarding Financing of Potential Projects in Turkmenistan between Abu Dhabi Fund for Development and the State Bank for Foreign Economic Activities of Turkmenistan Acting on behalf of the Government of Turkmenistan.
In addition, during the visit of the Turkmen delegation to the UAE, the prospects of cooperation between Turkmenistan and the International Renewable Energy Agency (IRENA) were discussed in order to expand cooperation in the field of rational use of renewable energy sources and ensuring energy security.
Also, the Turkmen delegation held a meeting with EXPO-2020, during which organizational issues related to the participation of representatives of Turkmenistan in this event, scheduled for October of this year, were discussed.
According to the report, the Turkmen delegation, headed by the Deputy Minister of Foreign Affairs of Turkmenistan Vepa Hadjiev, stayed in the UAE from February 2 through February 4, 2021.
The UAE companies are actively operating in the Turkmen energy market.
As reported, earlier, the UAE's Petrofac oil and gas company expressed its readiness to continue cooperation with Turkmenistan in the development of the Galkynysh gas field.
Galkynysh field, with a total area of more than 4,000 square kilometers, includes more than 40 wells, the production rate of each reaches on average 2 million cubic meters of gas per day.
Hyundai, LG (Republic of South Korea), CNPC (China), Petrofac, Gulf Oil & Gas International Fze (UAE) were involved in the development of Galkynysh field at different stages.
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