BAKU, Azerbaijan, October 23. The UN's Sustainable Development Goals (SDG) Fund will contribute $250,000 to mark the beginning of Turkmenistan's shift towards a greener economy, addressing the country’s heavy reliance on fossil fuels, said Dario Liguti, Director of the Sustainable Energy Division at UNECE, Trend reports.
He made the statement at the "Green energy transition in Turkmenistan: Getting ready to the 10th anniversary of the Paris Agreement" pre-conference session within the framework of the 29th “Oil & Gas of Turkmenistan - 2024” International Conference & EXPO in Ashgabat.
"Turkmenistan’s Green Transition is a key effort to reduce its reliance on fossil fuels and align with global climate goals. Currently, the country depends heavily on natural gas, leading to high greenhouse gas emissions. To meet Paris Agreement targets, Turkmenistan must shift towards renewable energy at its own pace.
A joint program, developed with government authorities and approved by the Strategic Advisory Board, is kickstarting this transition. Backed by the UN's Sustainable Development Goals (SDG) Fund with $250,000 in initial funding, this program marks a symbolic yet important first step towards green energy in the country," said the official.
According to Liguti, the program focuses on three main areas: renewable energy, energy efficiency, and decarbonization of the industrial sector.
"Renewable energy is especially crucial given that 99.9 percent of Turkmenistan’s power is gas-generated. With abundant solar and wind resources, Turkmenistan has the potential to become a renewable energy powerhouse. For instance, the solar energy capacity is estimated at 655 gigawatts, which is nearly 100 times the current installed capacity of seven gigawatts," he underlined.
Furthermore, Liguti emphasized the significance of energy efficiency in the transition.
"Reducing energy consumption is the most sustainable approach to energy use. Turkmenistan's energy intensity is one of the highest in the region, primarily driven by cheap gas prices. By improving energy efficiency, the country can not only reduce its environmental impact but also enhance its economic efficiency as global energy prices rise," said the official.
Moreover, he highlighted that the decarbonization of the industrial sector is also a crucial component of the program.
"This sector is a key part of Turkmenistan’s economic development strategy, and the country needs to align with global trends toward new technologies and sustainable practices. By adopting these practices, Turkmenistan can ensure its competitiveness in the global market."
In conclusion, the sustainable energy division director remarked on the collaborative efforts required for successful implementation as the initial phase will involve assessing current emissions and engaging stakeholders to identify technological needs and necessary policy reforms. This comprehensive approach will be vital in guiding Turkmenistan's journey toward sustainability, ultimately positioning the country as a leader in the fight against climate change.
The "Oil & Gas of Turkmenistan - 2024" (OGT 2024) forum is an international platform that unites leading national and international oil and gas companies, as well as industry experts and financial institutions. The main goal of the event is to strengthen the dialog on sustainable development of the energy sector and attract investments in the oil and gas industry of Turkmenistan. The forum will discuss the prospects of field development, modernization of processing facilities, as well as the introduction of advanced technologies and environmental aspects of hydrocarbon production.