Turkmenistan to host Energy Charter Forum

2017-10-24 03:16:00

(MENAFN- Trend News Agency ) Ashgabat, Turkmenistan, Oct. 24

By Huseyn Hasanov – Trend:

The next – 28th – session of the Energy Charter Conference will be held in Ashgabat on November 28-29, 2017, said the organization in a message.

Turkmenistan was elected as a chairing country of the Energy Charter Conference for 2017 in late 2016.

The Energy Charter is a declaration of political intention at strengthening energy cooperation between East and West.

The Energy Charter Treaty was signed in December 1994 and entered into force in April 1998.

The main objective of the treaty is to strengthen the legal norms in energy issues by creating a single field of rules that all participating governments must comply with, thus minimizing the risks associated with investment and trade in the field power engineering.

Turkmenistan is one of the rich countries for its natural gas resources. According to BP, the country's recoverable reserves are estimated at 17.5 trillion cubic meters of gas or nine percent of total global reserves, which puts Turkmenistan on the fourth position in this field after Iran, Russia and Qatar.

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