International expert in oil and gas issues appointed in Turkmenistan

Igor Makarov, head of the ARETI International Group headquartered in Geneva (Switzerland), has been appointed an expert of the adviser to the Turkmen president on oil and gas issues, Trend reports referring to the Turkmen government.

Having approved his candidacy for the aforementioned position, President of Turkmenistan Gurbanguly Berdimuhamedov stressed the long-term cooperation with ARETI, which is a long-standing business partner of Turkmenistan.

Adviser to the Turkmen president on oil and gas issues Yagshygeldi Kakaev proposed to appoint Makarov to this position.

ARETI International Group was created as a result of rebranding of ITERA International Group of Companies, which acted as the operator of the Turkmen gas supplies to Ukraine in the 2000s. Turkmenistan is one of the key players in the gas market in the Caspian Sea region and Central Asia.

According to the BP’s report, Turkmenistan with its gas reserves ranks fourth in the world after Iran, Russia and Qatar.

According to the program for the development of the country's oil and gas industry, gas production is planned to be increased up to 230 billion cubic meters by 2030, mainly for export. At this stage, China and Russia buy the Turkmen gas.