Economy
‘Dragon Oil’ will continue to carry out oil projects in Turkmenistan
30.09.2026‘Dragon Oil’ has been operating in Turkmenistan for over 26 years and is the operator of the Cheleken concession area in the Turkmen sector of the Caspian Sea. The Production Sharing Agreement has been extended until 2035, according to the news agency ‘Turkmenistan: Golden age’. The company began operations at Cheleken on 1 May 2000. The concession area, covering approximately 950 square kilometres, includes the Jeytun and Jygalybeg offshore fields, located some 45 km from the Turkmen coast. Over the years, ‘Dragon Oil’ has established offshore and onshore infrastructure for the production, processing, storage and export of oil. The company also continues to carry out geological exploration work near its existing facilities. The ten-year extension of the agreement was agreed upon with the participation of the State Concern ‘Türkmennebit’. The new term allows for the planning of further production, geological exploration and infrastructure development at Cheleken. ‘Dragon Oil’ is a Diamond Partner of the 31st International Conference and Exhibition ‘Oil and Gas of Turkmenistan – 2026’ (OGT 2026). Topics at the event include the development of resources in the Turkmen sector of the Caspian Sea, geological exploration, drilling technologies, offshore infrastructure and investment opportunities.
Ashgabat will bring together investors and international companies at TIF 2026
29.09.2026From 1 to 2 October, Ashgabat will host the Turkmenistan Investment Forum (TIF 2026), which will bring together foreign investors, international financial organisations and companies interested in entering the Turkmen market. This was reported by the press office of the Chamber of Commerce and Industry of Turkmenistan. The forum will showcase Turkmenistan’s investment opportunities and consider proposals for attracting foreign direct investment. Participants will also discuss the prospects for implementing joint investment projects, including regional initiatives. Particular attention will be paid to the development of foreign economic relations and the expansion of cooperation between Turkmen and foreign entrepreneurs and investors. Other topics on the forum’s agenda include the promotion of Turkmenistan’s export potential, digitalisation and the development of the digital economy.
19 trades were concluded on the Turkmenistan Stock Exchange over the course of the week
28.09.2026Last week, 19 transactions totalling 533,356,000 manats and $2,821,302 were recorded at the State Commodity and Raw Materials Exchange of Turkmenistan (SCRMET). This was reported by the online publication ‘Business Turkmenistan’. Businesspeople from the UAE purchased a concentrated liquorice root extract produced by the Ministry of Health and Medical Industry of Turkmenistan. Turkish businessmen bought cotton yarn from local manufacturers. Companies from Uzbekistan, Kyrgyzstan and Afghanistan purchased polypropylene, calcined petroleum coke, SN-180 and SN-600 base oils, as well as first-grade refined cottonseed oil. On the domestic market, local entrepreneurs purchased ‘A’ grade technical iodine, TPP D 30 S polypropylene, first-grade wheat flour produced by the ‘Türkmengallaönümleri’ State Association, and cotton fabric.
Trade and economic cooperation between Turkmenistan and Turkey was discussed in Ashgabat
27.09.2026Sefa Gomdeniz, Chair of the Turkey–Turkmenistan Business Council under the Turkish Foreign Economic Relations Board (DEİK), and a delegation from the council met with Shener Cebeci, the Turkish Ambassador to Turkmenistan. This was reported by the online publication ‘Business Turkmenistan’. The parties discussed trade and economic ties between the two countries and the prospects for cooperation between the business communities. The Turkey–Turkmenistan Business Council operates under DEİK and is dedicated to developing business contacts between companies in Turkey and Turkmenistan. Shener Cebeci was appointed Turkish Ambassador to Turkmenistan in 2026. On 28 August, he presented his credentials to the President of Turkmenistan, Serdar Berdimuhamedov.
CNPC will be a platinum sponsor of OGT 2026
26.09.2026The China National Petroleum Corporation (CNPC) will be a platinum sponsor of the 31st International Conference and Exhibition ‘Oil and Gas of Turkmenistan – 2026’ (OGT 2026), which will take place on 21–23 October in Ashgabat. This was reported by the news agency ‘Turkmenistan: Golden age’. CNPC’s participation coincides with the 20th anniversary of strategic cooperation between Turkmenistan and China in the gas sector. In April 2026, ‘Türkmengaz’ and CNPC Amudarya Petroleum Company Ltd signed a contract for the implementation of Phase IV of the ‘Galkynyş’ field development. The project involves the construction of a commercial gas processing facility with a capacity of 10 billion cubic metres per year and the drilling of production wells to supply this volume. CNPC has been operating in Turkmenistan since 2007. One of the key cooperation projects has been the ‘Turkmenistan–China’ gas pipeline, which came into operation in 2009. The cooperation also encompasses geological exploration, field development, infrastructure construction, equipment supply, technology transfer and specialist training. At OGT 2026, discussions will focus on the further development of the ‘Galkynyş’ field, the diversification of gas export routes, the TAPI project, the development of Caspian Sea resources, gas processing and the oil and gas chemical industry, digitalisation, the reduction of methane emissions and new investment projects. The conference will be held under the motto ‘Energy. Partnership. Progress’.
Turkmenistan has incorporated the UN SDGs into its national development strategies
25.09.2026Turkmenistan was one of the first countries to integrate the targets and indicators of the United Nations 2030 Agenda’s Sustainable Development Goals (SDGs) into its national development strategies and programmes. This was stated on 23 September at a meeting of the Halk Maslahaty in Ashgabat by the National Leader of the Turkmen people and Chairman of the Halk Maslahaty of Turkmenistan, Gurbanguly Berdimuhamedov, according to the news agency ‘Turkmenistan: Golden age’. According to the Chairman of Halk Maslahaty, systematic work is being carried out in the country to protect the environment and provide the population with accessible, high-quality services in the fields of education and healthcare. Hero Arkadag also highlighted measures to combat climate change and develop a ‘green’ economy. According to the National Leader of the Turkmen people, a comprehensive approach to global challenges strengthens Turkmenistan’s position as a consistent and developing partner on the international stage.
Work is set to begin in Turkmenistan on the reconstruction of the ‘Ashgabat–Dashoguz’ road
25.09.2026In Turkmenistan, work is due to begin on the reconstruction of the ‘Ashgabat–Dashoguz’ motorway by the end of the year. This was announced by the President of Turkmenistan, Serdar Berdimuhamedov, on 23 September at a meeting of the Halk Maslahaty of Turkmenistan in Ashgabat, according to the news agency ‘Turkmenistan: Golden age’. The modernisation of the country’s motorways and the road sector’s material and technical infrastructure is also continuing. This year, the 600-kilometre ‘Mary–Turkmenabat’ section of the ‘Ashgabat–Turkmenabat’ motorway was opened to traffic. Construction of the ‘Turkmenbashi–Garabogaz–Kazakhstan border’ motorway is proceeding at a rapid pace.
Turkmenistan is building up the capacity of its transport sector
25.09.2026Large-scale work is under way in Turkmenistan to develop the transport and communications infrastructure. This was stated by the President of Turkmenistan, Serdar Berdimuhamedov, on 23 September at a meeting of the Halk Maslahaty in Ashgabat, according to the news agency ‘Turkmenistan: Golden age’. The Head of State noted that the development of the transport and logistics system opens up new economic opportunities for the country and the region. Among the priority tasks are increasing the capacity of transport routes, expanding international and transit freight transport, introducing artificial intelligence technologies and developing digital services. Particular attention is being paid to the national merchant fleet and to utilising the potential of the Turkmenbashi International Seaport. Serdar Berdimuhamedov recalled that earlier this year, the dry cargo ship ‘Gadamly’, built at the ‘Balkan’ shipbuilding and ship repair yard, completed its first international voyage. The government will continue to modernise the sector’s material and technical base and to construct new transport and communications infrastructure facilities.
The volume of investment in Turkmenistan’s economy will exceed 41.2 billion manats
25.09.2026The President of Turkmenistan, Serdar Berdimuhamedov, has announced that by the end of 2026, the volume of capital investment channelled into the country’s economy will exceed 41.2 billion manats. The Head of State made this statement on 23 September at a meeting of the Halk Maslahaty in Ashgabat, according to the news agency ‘Turkmenistan: Golden age’. According to Serdar Berdimuhamedov, investment funds are being channelled towards the construction and modernisation of industrial and social infrastructure. This year, 68.5 per cent of the state budget is earmarked for industrial facilities, and 31.5 per cent for the social sector, including education, healthcare and culture. The President of Turkmenistan has instructed the relevant ministries to draw up a Programme for the socio-economic development and investment of Turkmenistan for 2027.
The fourth phase of the ‘Galkynyş’ development project will increase Turkmenistan’s gas production capacity
25.09.2026The fourth phase of development is currently underway at the ‘Galkynyş’ gas field. The project involves the construction of infrastructure to process an additional 10 billion cubic metres of marketable gas per year. This was announced on 23 September at a meeting of the Halk Maslahaty by the National Leader of the Turkmen people and Chairman of the Halk Maslahaty of Turkmenistan, Gurbanguly Berdimuhamedov, according to the news agency ‘Turkmenistan: Golden age’. According to the Hero Arkadag, this new phase will enable an increase in natural gas production, expand export opportunities and create new jobs. The phased development of the ‘Galkynyş’ project forms part of the country’s ‘Oil and Gas Industry Development Programme for the period up to 2030’. The programme provides for the modernisation of the fuel and energy sector, an increase in production and the diversification of export routes. Among the major energy projects, the ‘Turkmenistan–Afghanistan–Pakistan–India’ (TAPI) gas pipeline was also highlighted, which is aimed at developing socio-economic cooperation in the region.
Turkmenistan’s GDP growth for the year is expected to reach 6.3 per cent
25.09.2026On 23 September, at a meeting of the Halk Maslahaty in Ashgabat, the President of Turkmenistan, Serdar Berdimuhamedov, outlined the country’s socio-economic development priorities for the coming years. Among the main objectives are the modernisation of the economy and the improvement of the population’s standard of living, according to the news agency ‘Turkmenistan: Golden age’. The Head of State stated that growth in production across all sectors is helping to maintain high rates of growth in gross domestic product (GDP). GDP is expected to grow by 6.3 per cent by the end of the year. The modernisation of the financial market and the development of the employment sector are also continuing. As part of the Labour Market Development Concept up to 2030, enterprises are being built and modernised across the country. It is planned to create around 5,300 new jobs by the end of the year. Work to improve the employment system will continue.
TIF 2026 will bring together delegates from 45 countries in Ashgabat
24.09.2026More than 800 delegates from 45 countries will take part in the Turkmenistan Investment Forum 2026, which will be held on 1–2 October in Ashgabat. Among them are representatives of international financial organisations, government and business circles, as well as multinational companies, according to the IIC of Turkmenistan. Representatives from the USA, the UK, Germany, France, Japan, Singapore, the UAE, Saudi Arabia and Central Asian countries have registered to attend the forum. Saudi Arabia will be represented by a delegation led by Prince Mansour bin Mohammed Al Saud, Head of the investment holding company Najd Gateway Holding. The delegation will also include representatives from the energy, industrial, agricultural and construction sectors. Representatives from the World Bank, the European Bank for Reconstruction and Development, the International Finance Corporation and the Asian Development Bank will take part in the forum. Representatives from the Netherlands, Turkey, Pakistan, Armenia, Kyrgyzstan and Saudi Arabia have confirmed their participation at ministerial level. The forum is organised by the Ministry of Finance and Economy of Turkmenistan, the Ministry of Foreign Affairs of Turkmenistan and the company ‘Turkmen Congress’.
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