Türkmengaz (Turkmen Gas) State Concern and the National Oil Company of Abu Dhabi (ADNOC) inked a Memorandum of Understanding during the United Arab Emirates visit of Gurbanguly Berdimuhamedov, the National Leader of the Turkmen people and Chairman of the Halk Maslahaty of Turkmenistan, the official Turkmen media reported on Friday.

The primary focus of this Memorandum is to express the mutual intention of the parties to engage strategic partners for the third stage of development of the Galkynyş field. Additionally, it outlines potential collaboration in energy projects, emphasizing the construction of gas pipeline infrastructure to facilitate natural gas supply to regional countries and beyond.

Türkmengaz S.C. and ADNOC also signed a Memorandum of Cooperation, outlining their shared commitment to exploring opportunities for scientific, technical, and economic cooperation. This collaboration specifically targets the reduction of methane emissions, underscoring their dedication to environmentally conscious practices.

In another dimension of this burgeoning partnership, the State Bank for Foreign Economic Activities of Turkmenistan and the First Abu Dhabi Bank formalized their commitment through a Cooperation Agreement. 

Business Turkmenistan