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Seoul, Ashgabat want to expand cooperation in oil and gas sector

Oil&Gas Materials 29 April 2010 12:52 (UTC +04:00)

Turkmenistan, Ashgabat, April 29 / Trend H. Hasanov /

South Korea is interested in establishing full cooperation with Turkmenistan in oil and gas sector, member of the National Assembly Lee Sang-deuk said in Ashgabat at a meeting with President Gurbanguly Berdimuhammedov.

National TV channel Altyn Asir reported that members of South Korean delegation were received in the Foreign Ministry, the Majlis (parliament) and government of the country.

The sides also agreed to develop relations in such areas as trade, environment, construction, textiles, transportation, communications, and education taking into account complementary economies of both countries.

Two South Korean companies have already received a major contract in the energy sector of Turkmenistan. For example, a consortium of South Korea's companies LG International and Hyundai Engineering Co. Ltd took up the design and construction on one of the largest gas field in Turkmenistan, South Yoloten.

It deals with a complex to clean commercial gas from sulfur with annual capacity of 10 billion cubic meters in the total amount (including VAT) of about $1,5 billion. Daewoo E & C concern proposed its services in innovative technologies.

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