Turkmenistan's top energy official fired

By The Associated Press

Turkmenistan's president has fired his natural gas-rich nation's leading energy official.

 

ASHGABAT, Turkmenistan (AP) — Turkmenistan's president has fired his natural gas-rich nation's leading energy official.

State newspaper Neutral Turkmenistan said Thursday that deputy prime minister for energy affairs Yashigeldy Kakayev was fired for exercising "weak control" over an industry that is the lifeblood of the former Soviet republic's economy.

The firing of Kakayev, a respected energy industry veteran, is a signal of deepening crisis in Turkmenistan, which has been badly hit by the plummeting value of natural gas — its only substantial export commodity. The country has also lost Russia and Iran as gas customers in recent years, leaving it with only China, from which it has borrowed billions of dollars.

Kakayev is to be replaced by the outgoing head of the Turkmengaz state gas company, Maksat Babayev.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs