LG International and Hyundai Engineering are interested in the implementation of new projects in Turkmenistan

Opportunities for further development of partnership in the oil and gas and chemical industries were discussed at the meeting of the President of Turkmenistan Gurbanguly Berdimuhamedov with the heads of South Korean companies "LG International" song Chi Ho and "Hyundai Engineering" sung sang-Rock. The head of state met with foreign businessmen on the eve of the opening of the largest gas chemical complex for the production of polyethylene and polypropylene in the village of Kiyanly on the Turkmen coast of the Caspian sea.

The company "LG International Corp", "Hyundai Engineering" (Republic of Korea) and "TOYO Engineering Corporation" (Japan) took part in implementation of this large investment projects worth over 3.4 billion US dollars. The state Concern "Turkmengas" signed a contract with these companies, which was signed within the framework of the official visit of President Gurbanguly Berdimuhamedov to Japan in 2013.

During the meeting, the head of state and his guests exchanged views on priority areas of cooperation in the field of modernization of the material and technical base of the fuel and energy complex, and, above all, the gas chemical industry, where Turkmenistan has a huge resource potential.

Turkmenistan's natural gas reserves are among the top four countries in the world. At the same time, limited pipeline gas exports hamper the realization of the country's export potential. In this situation, Ashgabat has embarked on the construction of a number of gas chemical enterprises for deep processing of natural gas and production of finished products, which are in high demand in foreign markets.

Noting the interest in further development of partnership with Turkmenistan, Korean businessmen confirmed their readiness to provide our country with their advanced developments, experience and technology. During the meeting, the guests familiarized the Turkmen leader with a number of new proposals, the practical implementation of which will be of great importance for the growth of the Turkmen economy.

It should be noted that Turkmenistan has prepared a plan for the construction of a number of new gas chemical enterprises (GHK), where the production of polypropylene, polyethylene, caustic soda, polyvinyl chloride, acrylic fiber, gasoline, diesel fuel, kerosene and other gas chemical products – a total of 17 items-will be established on the basis of advanced technologies for the processing of natural gas.

Including large GHK is expected to be built in the village of Kiyanly Balkan province (region), in Dashoguz province, at the Turkmenbashi complex of oil refineries, in the third phase of the gas field "Galkynysh".

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2014