Turkmenistan seeks to expand its energy sector
By Nigar Abbasova
Energy-rich Turkmenistan is currently engaged in the construction of gas chemical plant in the country’s Balkan region, Neutral Turkmenistan reported
The project is implemented jointly with the consortium of Japanese TOYO and South Korean LG and Hyundai.
“Implementation of the project is expected to meet internal requirements of the country and expand its export potential”
As much as 16 foreign and national subcontracted organizations are participating in the construction process. More than 1,000 units of construction equipment is involved in the process. The project is expected to be focused on processing of hydrocarbon gas into chemical products including annual production of 81,000 tons of polypropylene, 386,000 tons of polyethylene which are widely used in the production of polyethylene tubes, packaging products, textile fiber, synthetic covering. Approximately 49,000 tons of pyrolysis gasoline will be produced in the plant as a minor product.
The plant is expected to be a unique complex on the refinery of raw gas into polymer including such processes as purification of gas, fractional separation, as well as polymerization of ethylene and propylene. The installation of manufacturing and auxiliary equipment is scheduled to compete at the end of 2016.
The total amount of the project is $3.4 billion. The plant is scheduled to operate from September, 2018. the Japanese Bank for International Cooperation, Export-Import Bank of Korea, as well as syndicates of the participating financial institutions of Japan, Germany, France, Korea, China, Italy, Austria and Switzerland render financial assistance to the project.
The project is considered to be of great importance for the economy of the country as it may give an impetus to the process of turning the country into a major exporter of chemical products. The plant is expected to raise export potential of the country by means of output of the production which is in high demand in the world market.
Turkmenistan has abundant reserves in the energy resources and plans to diversify the routes of gas deliverance. The country is one of the key players in the energy industry of the Caspian region.
Being the forth in the world in terms of the volume of natural gas reserve the country is considering the European market as one of the most promising areas of gas supply.
The construction of modern oil and gas facilities is considered to be an important step for the further development and successful implementation of the energy strategy of the country, diversification of the national economy, strengthening of its positions in the world markets.
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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova
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