Turkmenistan promoting major investment projects in fuel & energy sector

Oil&Gas Materials 27 January 2020 13:18 (UTC +04:00)

ASHGABAT, Turkmenistan, Jan. 27

By Huseyn Hasanov – Trend:

Turkmenistan is working to promote a number of major investment projects aimed at strengthening the raw material base of the fuel and energy sector, building up its production potential and export capabilities, Trend reports with reference to the Watan newspaper.

This issue was raised at a government meeting. Turkmen President Gurbanguly Berdimuhamedov gave the relevant instructions on attracting foreign investors to the fuel and energy sector, expanding cooperation with major foreign oil and gas companies with advanced technologies.

Turkmen Deputy Prime Minister Myratgeldy Meredov spoke on the state of affairs in the structural divisions of the fuel and energy sector undertaken to implement the “Program for the Development of the Oil and Gas Industry of Turkmenistan until 2030.”

The head of state drew attention to the fact that further diversification of the oil and gas sector, the modernization of its infrastructure on an innovative basis are among the priorities for successfully resolving the issues in this sector.

Multi-billion projects are planned to be implemented jointly with foreign partners. Proposals came from participants of international tenders, including companies from Europe and the Far East.

For example, it is planned to expand the production of a complex for the output of polyethylene and polypropylene in the Caspian Kiyanly settlement in the Balkan region of Turkmenistan. Nearby it is planned to establish production of polyvinyl chloride, caustic soda, hydrochloric acid, liquid chlorine.

A construction project of the unit for the production of methyldiethanolamine is also being developed in Kiyanly settlement. A facility for the production of rubber and polystyrene will be built in Lebap region, polyvinyl acetate and methanol - in the Dashoguz region.

Turkmenistan, according to a report by British Petroleum (BP), ranks fourth in terms of natural gas reserves in the world and at this stage sells it to China and Russia.