Turkmengas, ADNOC sign MoU on development of Galkynysh gas field

The state concern Turkmengas has signed a Memorandum of Understanding with the Abu Dhabi National Oil Company (ADNOC), local TV channel Altyn Asyr said, Report informs.

The ceremony took place as part of a working visit to the UAE by Gurbanguly Berdimuhamedov, Chairman of the People's Assembly of Turkmenistan.

The purpose of the agreement is for the parties to attract strategic partners for the development of the third phase of Galkynysh, the world's second-largest gas field. ADNOC will also explore the possibility of its participation in the implementation of energy projects related to the construction of infrastructure to supply natural gas to countries in the region and beyond.

In addition, the two sides will explore potential partnership opportunities in the field of reducing methane emissions into the atmosphere. The Turkmen side has also signed relevant documents with Dragon Oil, Dubai Aviation and First Abu Dhabi Bank.

Experts told Daryo that Galkynysh is one of the main sources of gas supplies to China and a potential base for a pipeline under construction to South Asia and a project under discussion to Europe via the Caspian Sea.