The cooperation between the UK and Turkmenistan in the energy sector is one of the most important aspects of bilateral relations. The import of energy resources is a topical issue for the entire European Union, and the UK is no exception. Turkmenistan, with its significant oil and gas resources, has a great potential to rescue all the countries, which in the near future may face a problem of depleting domestic energy reserves.

At the same time, the UK, with experience of operating in the North Sea for more than 40 years, is capable of sharing its expertise with countries that only recently started to explore their offshore resources and may require informational support and advice. Recognizing all this, it was decided that a visit of Mr Malcolm Wicks, MP, UK Minister of State for Energy, to Turkmenistan should be arranged to start concrete actions and informational exchanges. The visit, which took place in September 2007, resulted in the signing of a Protocol of Intentions between the UK Department for Business, Enterprise and Regulatory Reform (BERR) and the Ministry of Oil and Gas Industry and Mineral Resources of Turkmenistan to enhance cooperation between the two countries in the oil and gas sphere.

Another important event, which signifies an intensification of relationship, was the visit of the high-level delegation from Turkmenistan, including the Deputy Prime Minister and heads of the Ministry of Oil and Gas Industry, Mineral Resources and the State Agency for the Management and Use of Hydrocarbon Resources of Turkmenistan. The visit also coincided with the Oil and Gas Conference in London that focused on the Turkmen energy market. The delegates also got a chance to get information about the UK Government’s approach towards managing hydrocarbon resources, working with the private sector and establishing a regulatory framework. A visit to one of offshore production platforms was organised during the visit. Apart from the top management, specialists of the oil and gas sector of Turkmenistan also got a chance to visit the UK and learn about the Government’s approach to the development and implementation of the UK energy policy. Apart from seminars and discussions with BERR, petroleum companies and corporations also arranged a number of presentations for the group.

Apart from several issues related to the informational exchange covered by the formal Protocol of Intentions, there is also realization by both countries that cooperation provides opportunities for a very deep and extensive understanding of needs and expectations of each other, which will inevitably promote more intensive and close interaction in the long term.