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TurkmenGaz

TurkmenGaz is a state-owned fully integrated oil and gas company headquartered in Turkmenistan. In 2020, it had USD 4.13 billion in revenue for the first 11 months and a reported 20,000 employees*. TurkmenGaz is the national gas company of Turkmenistan and the largest gas company in Central Asia. It shows no engagement with the low-carbon transition.

Summary

TurkmenGaz ranks joint 86th with an ACT rating of 0.5E-. Apart from an energy efficiency project in collaboration with the United Nations Development Program in 2015, there is no evidence that TurkmenGaz is aware of climate change issues or is addressing the impact of these issues on the company. There is no mention of climate change in the company’s published reports or other forms of disclosure. Consequently, the company scores zero across all qualitative benchmark assessment areas.

The company’s gas dominated portfolio means its performance across the quantitative assessment areas is also lacking. With no climate change governance, low-carbon transition plan and recent or planned emissions reductions, TurkmenGaz is not prepared for a low-carbon economy.

*Employee figure as reported in 2020. This figure may include full- and part-time employees and workers, depending on the company’s reporting practice.

Ranking position: #86 /100
Total score: 1.2 /100
Performance score: 0.5 /20
Narrative Score: ABCDE
Trend Score: Trend line is up

Trend line is equal

Trend line is down

Performance module name	Performance module score	Rank (0-100)
Targets	0.0 /100	#38
Material Investment	3.1 /100	#62
Intangible Investment	0.0 /100	#20
Sold products	5.8 /100	#26
Management	0.0 /100	#91
Supplier Engagement	0.0 /100	#57
Client Engagement	0.0 /100	#53
Policy Engagement	10.0 /100	#69
Business Model	0.0 /100	#52

Leading practices

No leading practices were identified for this company.

All modules: TurkmenGaz is exposed to risks across every assessment area. It is not engaging with the low-carbon transition and so will not be prepared for changes to the sector. The company’s revenues are wholly reliant on oil and gas.

Commitment: TurkmenGaz has not set any emissions reduction targets or other low-carbon commitments.
Transition plan: TurkmenGaz does not have a low-carbon transition plan.
Present: There is limited publicly available information on the company. Gas makes up the entirety of its fuel mix and sold product mix.
Legacy: Between 2014 and 2019, TurkmenGaz’s fuel mix and sold product mix remained unchanged. There was an improvement in its scope 1, 2 and 3 emissions intensity. However, the company’s lack of reported data on gas processing means it is not known whether there was any improvement in its midstream activities.
Consistency: With no public acknowledgement of climate change and no low-carbon transition plan or emissions reduction targets in place, TurkmenGaz is not prepared for the low-carbon transition. The company will need to make a significant strategic and business model shift to align with its 1.5°C pathway.

More about the company

Headquarters: Ashgabat, Turkmenistan
Group revenue: USD 4.13 billion (first 11 months of 2020)
Ownership structure: State owned
Number of employees: 20,000
Scope of activity: Fully integrated
Website: https://www.oilgas.gov.tm/en

TurkmenGaz

Leading practices

Risks and opportunities

All modules

Progress towards the Paris Agreement

Commitment

Transition plan

Present

Legacy

Consistency

More about the company