Economy
‘Petronas’ may begin drilling operations in Turkmenistan’s gas blocks as early as December
15.07.2026Malaysian Prime Minister Datuk Seri Anwar Ibrahim has stated that exploration and drilling work on the Turkmenistan gas blocks allocated to ‘Petronas’ could begin as early as December. This was reported by the news website Turkmenportal. According to him, the project is progressing at a record pace. Anwar noted that the development of the Turkmen fields will strengthen Malaysia’s position as one of the world’s largest holders of gas reserves and will be an important step in ensuring the country’s energy security. He also emphasised that the authorities are continuing to take measures to maintain the stability of energy supplies, keep prices in check and strengthen the economy.
The Turkmen Stock Exchange has summarised the trading results for the past week
14.07.2026Last week, 16 transactions were recorded on the State Commodity and Raw Materials Exchange of Turkmenistan. This was reported by the news website Turkmenportal. Liquefied gas, textile products, cottonseed oil, cotton yarn, fabrics, denim products, cleaned cotton spinning waste, as well as boilers and ceramic sanitaryware were sold for export in exchange for foreign currency. The buyers were companies from Georgia, the UAE, Turkey and Uzbekistan. The total value of the export contracts exceeded 3.297 million US dollars. On the domestic market, Turkmen entrepreneurs purchased polypropylene, wheat flour, cotton yarn, raw silk and cotton fibre. The total value of the transactions amounted to 128.216 million manats.
Turkmenistan to showcase new technologies for key economic sectors
13.07.2026The International Exhibition and Conference on ‘Development of the Construction, Industrial, Chemical, Energy Sectors of Turkmenistan’ will take place in Ashgabat from 3 to 5 November 2026. This was reported by the press office of the Turkmenistan Chamber of Commerce and Industry. According to the source, the event is being organised by the Chamber of Commerce and Industry of Turkmenistan. As part of the exhibition and scientific conference, participants will present modern technological solutions and equipment for the construction and industrial sectors. The source reports that the aim of the event is to attract foreign investment into key sectors of Turkmenistan’s economy, as well as to strengthen regional and international cooperation. The exhibition is expected to provide a platform for the exchange of professional expertise, the presentation of new projects and the discussion of development prospects for the construction, industrial, chemical and energy sectors. Participants will have the opportunity to showcase their technological innovations, expand their business networks and establish new partnerships with representatives from various countries.
Ashgabat is set to host forums on transport and telecommunications
13.07.2026An International Conference and Exhibition entitled ‘International Transport and Transit Corridors: Interconnection and Development – 2026’, as well as the International Exhibition and Scientific Conference ‘Turkmentel – 2026’, will take place in Ashgabat from 24 to 26 November 2026. This was reported by the press office of the Chamber of Commerce and Industry of Turkmenistan. The events are being organised by the Chamber of Commerce and Industry of Turkmenistan. According to the source, as part of ‘Turkmentel – 2026’, participants will discuss the development of digital transformation, cyber security, satellite communications technologies and the implementation of the state strategy for digital development.
Turkmenistan is strengthening its role as an international transport hub
12.07.2026The transport and logistics system plays a key role in the integration of nations and the development of the global economy. Due to its favourable geographical location, Turkmenistan is becoming an important transit hub in Eurasia, according to the press office of the Ministry of Road Transport of Turkmenistan. International recognition of this policy came with the UN General Assembly’s proclamation, at Turkmenistan’s initiative, of 2026–2035 as the ‘Decade of Sustainable Transport’. Situated on the coast of the Caspian Sea, Turkmenistan links transport routes between South Asia, Europe, the Middle East and China, thereby fostering international cooperation in the transport sector. One of the key routes is the South-Western Transport Corridor, which facilitates the delivery of goods from China to Europe via the Caspian Sea and the Caucasus. An important part of this remains the Lapis Lazuli corridor, running along the route Afghanistan – Turkmenistan – Azerbaijan – Georgia – Turkey. The Turkmenbashi International Seaport plays a significant role in developing transit capacity. The city of Arkadag is also undergoing development, with modern digital logistics and transport facilities being established there. The development of rail, road, maritime and aviation infrastructure is strengthening Turkmenistan’s position as one of the region’s key logistics hubs. It is expected that, with the further digitalisation of global trade, the importance of the country’s international transport corridors will continue to grow.
Turkmenistan’s oil and gas sector has set out its development objectives
12.07.2026On 11 July, a review meeting was held at the Central Building of Turkmenistan’s oil and gas complex to discuss the sector’s performance in the first half of the year. Participants discussed the tasks set for the oil and gas sector by President Serdar Berdimuhamedov at an extended meeting of the Cabinet of Ministers on 10 July, according to the online news site AsmanNews. G. Agajanov, Deputy Chairman of the Cabinet of Ministers of Turkmenistan, highlighted the main areas of development for the sector, including the modernisation of production facilities, the introduction of modern technologies and the improvement of operational efficiency at enterprises. Reports on the results of operations over the past six months were presented by the heads of the State Concerns ‘Türkmennebit’, ‘Türkmengaz’, the State Corporation ‘Türkmengeologiýa’, as well as representatives of associations and enterprises within the sector. Particular attention was paid to the construction of the ‘Serhetabat–Herat’ gas pipeline, which forms part of the Trans-Afghan Gas Pipeline project ‘Turkmenistan–Afghanistan–Pakistan–India’ (TAPI). During the meeting, tasks were discussed relating to increasing oil and gas production, expanding export volumes, modernising enterprises, carrying out geological exploration, developing new fields and promoting the production of environmentally friendly products. G. Agajanov emphasised the need to monitor the implementation of major projects, introduce digital technologies and meet production targets. Following the meeting, tasks were set for the State Concerns ‘Türkmennebit’, ‘Türkmengaz’, the State Corporation ‘Türkmengeologiýa’.
Turkmenistan has seen an increase in the performance indicators of its oil and gas sector
11.07.2026The ‘Türkmennebit’ State Concern fulfilled its oil production target by 108.3 per cent, whilst the Concern’s oil refineries fulfilled their oil refining target by 104.1 per cent. This was reported on 10 July during a meeting of the Cabinet of Ministers by Deputy Chairman of the Cabinet of Ministers G. Agajanov, who presented a report on the results of efforts to increase oil and gas production, as well as to expand supply routes to global markets for the period January–June 2026. According to the news agency TDH, it was noted that petrol production stood at 116 per cent of the target, diesel fuel at 111.4 per cent, polypropylene at 100 per cent, lubricating oils at 119.4 per cent, and liquefied gas at 118.5 per cent. The production target for natural gas and associated gas was met at 107.6 per cent.
Turkmenistan and Azerbaijan are expanding their cooperation in strategic areas
10.07.2026Making effective use of the geographical advantages of Turkmenistan and Azerbaijan creates significant opportunities for expanding and diversifying cooperation in strategically important areas. This was discussed at a meeting between the President of Turkmenistan, Serdar Berdimuhamedov, and the Minister of Economy of the Republic of Azerbaijan, Mikayil Jabbarov, according to the news agency ‘Turkmenistan: Golden age’. The Head of State noted that his recent state visit to Azerbaijan had marked an important stage in the development of bilateral relations. The high-level negotiations held during the visit had laid new foundations for further strengthening cooperation in priority areas. During the meeting, the parties emphasised the need to make more effective use of the two countries’ advantageous geographical location. Particular attention was paid to expanding cooperation, implementing joint projects in the energy sector, developing transport and transit routes, improving logistics infrastructure and promoting initiatives of international significance. The important role of the Turkmen-Azerbaijani Inter-governmental Commission on Economic Cooperation was also noted. As noted, the Commission is a key mechanism for coordinating joint work and contributes to the development of ties in trade and economic, logistical, scientific and technical, and other priority areas.
Ashgabat and Baku are developing their partnership in the energy and transport sectors
10.07.2026The ninth meeting of the Turkmen-Azerbaijani Inter-governmental Commission on Economic Cooperation took place in Ashgabat. The main topics were the development of a strategic partnership in the electricity sector and the transport and logistics sector, according to the news agency ‘Turkmenistan: Golden age’. It was noted at the meeting that the 1,574 MW power station currently under construction in the Turkmenbashi etrap of the Balkan velayat would form the basis for expanding cooperation in the electricity sector. The participants also discussed the development of transport corridors. It was emphasised that the modernised infrastructure of the Turkmenbashi International Seaport and the Baku International Sea Trade Port facilitates efficient transit freight transport between Asia and Europe and strengthens the logistical capacity of the Caspian region.
Turkmenistan and ‘TRANSHOLD’ discussed cooperation opportunities in Islamabad
10.07.2026On 8 July, a meeting was held at the Embassy of Turkmenistan in Islamabad with Babar Badat, Chairman of the transport and logistics company ‘TRANSHOLD’. This was reported by the IIC of Turkmenistan. At the start of the discussion, the guest spoke highly of the country’s policy of neutrality and its active role in international partnerships. The main topic of discussion was the development of the transport and logistics sector. The parties paid particular attention to Turkmenistan’s advantageous geographical position as a key hub between Europe and Asia, as well as the large-scale infrastructure projects currently being implemented in the country. At the conclusion of the meeting, the interlocutors emphasised the importance of modernising transit corridors and introducing advanced logistics solutions, and expressed their mutual interest in further strengthening mutually beneficial cooperation.
Turkmenistan is expanding its international freight transport capacity
10.07.2026A large-scale modernisation of border infrastructure and the introduction of digital technologies have enabled Turkmenistan to significantly increase the volume of international freight transport. This was reported by the news website Asmannews. Total freight traffic through border checkpoints exceeded 10.5 million tonnes, which is 10 per cent higher than last year’s figures, whilst the volume of export and import operations rose by 6 per cent. Transit shipments through the country’s territory covered more than 90 countries worldwide, increasing by 15 per cent to over 3.5 million tonnes. The main driver of this growth was the complete modernisation of the State Customs Service’s posts. The installation of modern screening systems and the launch of end-to-end digital systems have enabled the automation of transport clearance procedures from the moment vehicles enter the customs zone. This has drastically reduced processing times and increased the throughput capacity of international transport corridors, whilst the planned modernisation of key routes continues as part of government programmes.
Turkmenistan and Armenia have increased the volume of their bilateral trade
09.07.2026Trade between Turkmenistan and Armenia increased by more than 60 per cent by the end of 2025, reaching approximately 36.5 million US dollars, according to Arsen Avagyan, Armenia’s Ambassador to Turkmenistan. This was reported by the news website Turkmenportal. According to him, the volume of trade rose from US$21.1 million in 2022 and US$22.3 million in 2024 to the current figure. This positive trend has continued into 2026: between January and April, trade turnover reached US$17.5 million. The diplomat noted that the growth in trade figures reflects the expansion of economic cooperation between the two countries. The Armenian-Turkmen business forum, held on 15 January in Yerevan, marked a new stage in this cooperation. A. Avagyan emphasised that the potential for cooperation has not yet been fully realised. Promising areas remain energy, transport and logistics, industry, agriculture, pharmaceuticals, high technology and digitalisation. The parties are paying particular attention to developing transit opportunities and strengthening regional connectivity.
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