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Turkmenistan offers joint energy projects to Saudi Arabia

Turkmenistan offers joint energy projects to Saudi Arabia Investment

By Huseyn Hasanov – Trend:

During the meeting with Saudi Arabia’s Minister of Commerce and Industry Tawfiq bin Fawzan Al Rabiah, Turkmenistan’s President Gurbanguly Berdimuhamedov proposed to thoroughly study the possibilities of implementing joint energy projects, said the message from Turkmen government.

The parties focused on boosting the cooperation in the fuel and energy sector.

It was noted that Turkmenistan and Saudi Arabia are ready to actively develop the cooperation in this sphere.

They expressed interest in implementation of joint project in other spheres as well. The trade and economic sphere, transportation and communication, textile and food industry, construction, tourism and sports were named as the priority areas of cooperation.

Turkmenistan plays one of the key roles on the energy market of the Caspian Sea region.

The country produces around 70-80 billion cubic meters of gas per year and exports it to China and Iran.

This is while Russia, the traditional purchaser of Turkmen gas, suspended its import in 2016.

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