ADB supports energy projects that boost regional cooperation
The role of financial institutions in supporting sustainable energy was considered at a special session of the international forum “Oil and Gas of Turkmenistan-2022” on Wednesday.
The forum delegates were presented with the main aspects of the development strategy of Turkmenistan for the next 30 years – until 2052. In this context, attention was paid to mechanisms for investing in the promotion of clean energy, stimulating the contribution of oil and gas companies to achieving the goals of the Paris Agreement to curb global warming. The latest trends in the financing of oil and gas projects were also analyzed.
Chang Ching Yu, Director of the ADB Resident Mission in Turkmenistan, was among the speakers at this session. He noted the importance of diversifying natural gas supplies, modernizing the transport infrastructure and developing the pipeline system, and introducing innovative technologies in this sector.
The speaker expressed ADB’s readiness to facilitate financial support for energy projects that contribute to the intensification of regional cooperation. For more than 20 years, the Asian Development Bank has been supporting Turkmenistan in its efforts to develop the economy, assisting in the diversification of the country’s export markets, and strengthening its regional relations, Chang Ching Yu said.
According to the cooperation program between Turkmenistan and the ADB, it is planned to support projects for the construction of power lines, the Turkmenistan-Afghanistan-Pakistan-India gas pipeline, as well as in the railway industry, in business and in the field of healthcare.
The international forum “Oil and Gas of Turkmenistan – 2022”, aimed at attracting foreign investment in the country’s fuel and energy complex, is held in a hybrid format. Its physical site is located in Ashgabat, to which, on the first day of the event, the national pavilion of Turkmenistan at the Dubai Expo was connected via a teleconference, from where representatives of a number of large companies spoke online.
