Ashgabat, Turkmenistan, Apr. 15
By Huseyn Hasanov- Trend:
Turkmengaz State Concern concluded a framework agreement with a consortium of South Korean companies as part of LG and Hyundai. The agreement concerns the construction of the plant for the production of synthetic liquid fuel through natural gas processing in Turkmenistan, the government of Turkmenistan said April 15.
The subject of the contract is the design, equipment procurement and construction of this plant, the statement said.
A framework deal was struck as part of Turkmen President Gurbanguly Berdimuhamedov's visit to South Korea April 11-14.
According to the South Korean media, the project cost is estimated at more than $ 3.8 billion.
Earlier, the South Korean consortium was involved in the construction of a plant for desulphurization of natural gas in the Galkynysh largest oil field in Turkmenistan. It continues modernizing the country's oil refining capacity.
A major contract between a consortium, consisting of LG and Hyundai, and the Turkmenbashi complex of oil refineries was also signed as part of President Berdimuhamedov's visit to South Korea.
Earlier, Hundai reported that the cost of this contract is estimated at $ 940 million.