More Investment Needed For Global Energy Security

More Investment Needed To Boost Global Energy Security, Turkmenistan Tells UN

New York, Sep 29 2008 10:10PM

Ensuring global energy security requires stepped-up investment, a top official from Turkmenistan, one of the world’s major oil and natural gas producers, told the final day of the General Assembly’s high-level annual debate.

As a top producer, the Central Asian country takes part in increasing international cooperation regarding energy, Rashid Meredov, Deputy Prime Minister and Minister for Foreign Affairs, said.

“Turkmenistan’s policy aimed at diversifying supplies of hydrocarbon raw materials and ensuring energy security has become an important element of this approach,” he noted.

“It is apparent that major investments are needed for developing [an] effective and stable system of global energy security and that [a] considerable share of those investments should be directed towards transportation of hydrocarbons and protection of energy infrastructure.”

Other key factors in guaranteeing adequate supplies to the world include political stability and global markets, Mr. Meredov told delegates.

He said that another component, the security of international pipelines, will lead to “a decrease in their vulnerability from the impact of natural and man-made disasters, likely risks connected to changes in the military-political situation in certain regions of the world, threats from international terrorists and unauthorized siphoning of transported energy resources."

The official said that Turkmenistan has launched an initiative to create an international agreement, under United Nations auspices, on the security of international pipelines.

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