The European Bank for Reconstruction and Development (EBRD) has highlighted the need for Turkmenistan to diversify its gas export markets to ensure sustained economic growth.
In its latest outlook, the bank noted that over 70% of Turkmenistan's gas exports are directed to China, creating economic vulnerabilities tied to this heavy reliance.
Recent developments, including a memorandum of understanding with Türkiye, signal potential access to European Union markets. Additionally, progress on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline could open avenues in the growing South Asian energy market, the EBRD report noted.
The bank also underscored the significance of Turkmenistan's new energy-saving legislation, introduced this year. The law aims to enhance energy efficiency through advanced technologies, resource optimization, and strengthened energy savings, paving the way for more sustainable growth in the energy sector.
Looking ahead, the EBRD projects Turkmenistan's GDP growth at 6.3% for both 2024 and 2025. Official data shows the economy expanded by 6.3% year-on-year in the first seven months of 2024, driven by investments in infrastructure, energy, and services, as well as government-led initiatives boosting construction and service activities.
Azerbaijan to boost natural gas exports to 12 countries by December, aiming for 1.2 billion cubic meters annually by 2027, alongside green energy initiatives and regional energy corridors.
The European Union could consider replacing Russian liquefied natural gas (LNG) imports with those from the United States. The European Commission President Ursula von der Leyen said it would be cheaper to buy it from America.
Barnier will leave office having served the shortest prime ministerial term in modern French history
Armenian Prime Minister Nikol Pashinyan has declared that ties between Armenia and the Russian-led Collective Security Treaty Organisation (CSTO) have crossed the "point of no return"
Brian Thompson, CEO of UnitedHealth's insurance unit, was fatally shot outside a Manhattan hotel. The incident remains under investigation, with no arrests yet made.
Does the aging process speed up in space? Oxford's Space Innovation Lab has sent human tissue samples to the International Space Station to investigate how microgravity might affect the aging process, potentially leading to breakthroughs in age-related diseases
The race for humanoid robots heats up, as companies like Tesla and 1X push forward with AI-powered machines. One of the latest contenders, 1X’s NEO, promises to to assist with everything from cleaning to companionship.
Negotiations at COP29 in Baku face a critical impasse as sharp divisions over climate finance and fossil fuel commitments threaten progress.
"Come up with the video in its full form," demands the COP29 CEO, Elnur Soltanov, in an exclusive interview with AnewZ. The chief executive has broken his silence on the claims he was using his position to organise potential fossil fuel deals.
Armenian Prime Minister Nikol Pashinyan has declared that ties between Armenia and the Russian-led Collective Security Treaty Organisation (CSTO) have crossed the "point of no return"
Director General of the International Atomic Energy Agency (IAEA), Rafael Grossi, has arrived in Uzbekistan for a two-day official visit, the Agency for the Development of Atomic Energy under the Cabinet of Ministers of Uzbekistan (Uzatom) announced.
Azerbaijan is steadfast in its efforts to transform the vision of the Rio Trio Initiative into concrete achievements, Minister of Ecology and Natural Resources Mukhtar Babayev stated at the High-Level Opening of "From Riyadh to Belem: The Rio Trio Initiative for Public-Private Action," held during U
The next parliamentary elections in Tajikistan, including deputies for the lower house (Majlisi Namoyandagon Majlisi Oli) and representatives for the Gorno-Badakhshan Autonomous Province, regions, cities, and districts of Dushanbe, will take place on March 2, 2025, according to the president's press
Georgia's public ombudsman accused police on Tuesday of inflicting torture on people arrested during six days of big street protests against the government's decision to suspend talks on joining the European Union.
Barnier will leave office having served the shortest prime ministerial term in modern French history
Armenian Prime Minister Nikol Pashinyan has declared that ties between Armenia and the Russian-led Collective Security Treaty Organisation (CSTO) have crossed the "point of no return"
Brian Thompson, CEO of UnitedHealth's insurance unit, was fatally shot outside a Manhattan hotel. The incident remains under investigation, with no arrests yet made.
Does the aging process speed up in space? Oxford's Space Innovation Lab has sent human tissue samples to the International Space Station to investigate how microgravity might affect the aging process, potentially leading to breakthroughs in age-related diseases
The race for humanoid robots heats up, as companies like Tesla and 1X push forward with AI-powered machines. One of the latest contenders, 1X’s NEO, promises to to assist with everything from cleaning to companionship.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment