Thursday, June 28, 2012 -
Turkmenistan on Wednesday said it will tighten its grip over foreign firms operating within the country’s immense energy industry.
The impetus to intensify control over Turkmenistan’s gas and oil sector came from its authoritarian leader, according to the government report.
President Gurbanguly Berdimuhamedov gave the order in response to a report on the country’s hydrocarbons industry at a government meeting on Wednesday.
Yagshigeldi Kakayev, deputy Prime Minister and director of State Agency for Hydrocarbon Resources, had been providing the Cabinet with an update on his working visits to Mary and Lebap provinces on behalf of the president.
The area boasts the world’s second largest gas field, South Yolotan, recently renamed Galkynysh (‘Revival’) by the president.
“Stressing that the successful and timely implementation of the projects will help strengthen the country’s economic power, the president urged deputy prime minister to control the activities of subordinate agencies and foreign companies working in this direction,” the government statement said, according to the Bernama news agency.
Energy firms from China, Russia, Malaysia, Canada, the United Arab Emirates, and Europe are operating in the country on production sharing agreements.
The former Soviet republic sits atop the world’s fourth largest reserves of gas.