On September 30, the sixth meeting of the Turkmen-Hungarian Intergovernmental Commission on Economic Cooperation took place in the capital of Turkmenistan. During the meeting, the participants discussed the supply of energy resources from Turkmenistan to the European Union.

The Turkmen delegation was led by Minister of Finance and Economy Mammetguly Astanagulyev, while the Hungarian side was headed by Deputy State Secretary for Eastern Relations Development Ádám Stifter. The meeting focused on the prospects for exporting Turkmen energy resources to the European market, as well as plans for cooperation in green energy and the gradual implementation of renewable energy sources.

A key topic of the negotiations was the strengthening of trade and economic ties. In this regard, Ashgabat and Budapest agreed to accelerate work on an agreement for the promotion and mutual protection of investments. Plans were also discussed for organizing reciprocal business visits for representatives of the business communities.

It is worth noting that Turkmenistan is pursuing a policy of diversifying its natural gas exports, placing particular emphasis on projects targeting the European direction. The country’s gas reserves are estimated at over 50 trillion cubic meters. Turkmenistan ranks fourth in the world in terms of proven natural gas reserves.

Source: International Information Center of Turkmenistan