2024.07.13
Grandview Institution July 13, 2024 09:31 Beijing
On July 11, Annaguly Deryayev, former Minister of Oil and Gas of Turkmenistan, and his entourage visited GVI and had an exchange of views with Chinese experts on China-Turkmenistan energy cooperation.
Turkmenistan is China’s second-largest natural gas importer, and the two countries’ economies are highly complementary. Turkmenistan is extremely rich in oil and gas resources, with proven natural gas reserves of about 19.5 trillion cubic meters, ranking fourth in the world and accounting for 10% of the global total. However, with its petrochemical equipment outdated, technological upgrading is imminent now. Turkmenistan is eager to deepen cooperation with China. This is partly because China is the "leader" in the field of petrochemical equipment (China's first 10,000-meter ultra-deep well began drilling in the Tarim Basin in Xinjiang recently, setting a new record for the deepest well in Asia), and partly because Russia is being sanctioned by the West after the outbreak of the Russia-Ukraine conflict so that Russian petrochemical equipment cannot meet Turkmenistan's needs). China and Turkmenistan should make doubled efforts to tap into the potential of cooperation.
Participants in this dialogue from the Chinese side include Sun Xiansheng, former Secretary General of the International Energy Forum; Ren Libo, President and Founder of GVI; Chen Yuanming, GVI’s Partner; Zhao Genrong, Vice Chairman and Director of the Shanghai Center; and He An, Secretary General and Director of the Center for South Asian Studies.