Turkmenistan is completing the construction of a large gas-chemical complex in the village of Kiyanly. Work on the future producer of polyethylene and polypropylene is made by 90%.
In the near future Turkmenistan intended to launch the third phase of development of the gas field Galkinish and bring the production to 95 billion cubic meters of gas, the chairman of the State Concern "Turkmengaz" Ashirguly Begliyev stated at a recent Ashgabat conference "Oil and Gas of Turkmenistan".
According to him, one of the major oil and gas projects in Turkmenistan is the industrial development of the largest Galkinish gas field, which is the second largest in the world, and will serve as a major source of natural gas for future export pipelines.
In the near future Turkmenistan intended to launch the third phase of development of the gas field Galkinish and bring the whole production there to 95 billion cubic meters of gas, the chairman of the State Concern "Turkmengaz" Ashirguly Begliyev stated at a recent Ashgabat conference "Oil and Gas of Turkmenistan".
According to him, one of the major oil and gas projects in Turkmenistan is the industrial development of the largest gas field "Galkynysh", which is the second largest in the world, and will serve as a major source of natural gas for future export pipelines.
Chevron might enter the project of construction of a gas chemicals complex realized by KPI (Kazakhstan Petrochemical Industries) along with South Korean LG Chem, Minister of Energy of Kazakhstan, V. Shkolnik said.
“Chevron is working out the issue of entering the project. This is good news”, he said.
He added that raw materials for this gas chemicals complex will be shipped by Tengizchevroil JV that develops the Tengiz deposit in the Atyrau region of Kazakhstan.
The project of construction of the gas chemicals complex in Atyrau on the north coast of the Caspian Sea is realized by KPI. The plant’s construction is supposed to be over in 2016.
The largest exporter of natural gas in Central Asia Turkmenistan has attracted $2.5 billion from Japan and Korea for the construction of a large gas-chemical complex, which launch was blessed by Turkmen leader in April.
The country, whose gas exports is still limited by pipeline supplies to China, Iran and Russia, signed a loan agreement with Japan Bank for International Cooperation (JBIC) and the Export- Import Bank of Korea (K-exim), the government of Turkmenistan reported on Friday.
The ten-year agreement involves loan for $700 million from JBIC and a loan of $1.8 billion from K-exim, a source in the government reported.
Turkmenistan estimates total costs into the project at $3.4 billion, 15% of which will be undertaken by a general contractor of the project state-owned concern Turkmengaz.
Turkmenistan has closed a credit agreement with the Japanese and the Chinese banks for construction of a gas chemical complexEdited by Rhod Mackenzie / 2014-05-27 09:57:08
Turkmenistan will build a gas chemical complex for the production of 386,000 tons of polyethylene and 81,000 tons of polypropylene annually. Its products will partially be exported.
The state bank of the external economy activity of Turkmenistan has closed on behalf of the Government of Turkmenistan credit agreements with the Japanese Bank of International Cooperation and the Korean banks for the construction of a gas chemical complex for polyethylene and polypropylene production between the state concern of Turkmengaz and the companies of LG International Corp, Hyundai Engineering (Korea) and TOYO Engineering Corporation (Japan).
There will be held a great ceremony of the start of modern gas petrochemical complex construction today in Turkmenistan. Its capacity will make up 386 thousand tons of polyethylene and 81 thousand tons of polypropylene a year, ITAR-TASS reports.
The complex of over $3.432 billion in value will be built by Japan TOYO Engineering, South Korean Consortium LG International Corporation and Hyundai Engineering Corp. Ltd.
The President of Turkmenistan G. Berdymukhamedov and the leader of China Xí Jìnpíng have participated in the launch ceremony of the largest Turkmen gas deposit of Galkynysh with reserves of 26 trillion cubic m.
They launched 3 complexes with gas extraction and processing capacity of 10 billion cubic m each. The total cost of the objects built by CNPC, Petrofac International LLC (the UAE) and the consortium of South Korean companies with participation of Hyundai Engineering and LG International is $10 billion..
The economy of Turkmenistan is tightly tied to the export gas pipelines. The economic diversification in the agrarian direction is impossible in conditions of a desert climate and underdeveloped system of ground irrigation. All the spheres of the republic’s life activity depend on the efficient use of the export pipeline. Conceptions of “gas policy” and “foreign policy” are equivalent in Turkmenistan, - http://www.centrasia.ru writes.
The gas industry demands the attraction of new modern equipment for the exploration and development of gas fields and an increase of the production volumes. Managers of the republic’s gas-producing sector negotiate with a number of foreign companies like Gulf Oil & Gas Fze, Petrofac International LLC (the United Arab Emirates), CNPC Chuanging Drilling Engineering Company (China) and consortium of companies LG International Соrр and Hyundai Engineering (South Korea) on the supply of equipment to the total amount of $9.7 billion.
The Government of Uzbekistan and South Korean Korea Gas Corporation (Kogas) signed a direct agreement on a construction of the Ustyrtsky gas chemical combine on the north-west of Uzbekistan at $3.9 billion, the source in the fuel-and-energy company of the Cabinet of Ministers of the republic said.
“The direct agreement contains a supplementary protection of the interest of the creditors and investors of the project,” the source stated. In particular, the structure and hedging rate have been agreed, the terms of replacement of the participants and compensation on an exit has been regulated.