Turkmenistan, South Korea sign intergovernmental agreements

Photo: Turkmenistan, South Korea sign intergovernmental agreements
 / Turkmenistan

Ashgabat, Turkmenistan, June 21

By Huseyn Hasanov - Trend:

Turkmenistan and South Korea signed a package of intergovernmental agreements in Ashgabat on June 20 following the two governments' talks at the highest level and in enlarged format, a source close to the talks told Trend.

In particular, the sides signed agreements on cooperation in such areas as the fuel and energy sector, agriculture, interaction of foreign ministries and several others.

The President of South Korea, Park Geun-hye arrived in Turkmen capital of Ashgabat on June 20, as part of her regional tour to Central Asia, and had talks with Turkmen President Gurbanguly Berdimuhamedov.

A number of major South Korean companies are successfully operating in Turkmenistan. In particular, LG International and Hyundai Engineering Co. LTD received major projects in the oil and gas sector in the coutnry.

A project worth $534 million is being realized at a refinery in the city of Turkmenbashi with the efforts of these companies. The project is to be commissioned in May 2015.

LG International and Hyundai Engineering Co. LTD also completed a significant project to develop the Galkynysh hydrocarbon deposit, which has the biggest natural gas reserves in Turkmenistan.

Korea Gas Corporation (KOGAS) is also interested in gas pipeline projects on the Turkmenistan-Afghanistan-Pakistan-India (TAPI) route and has made some of its proposals.

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