Azernews.Az

By Aynur Karimova

Turkmenistan plans to modernize the production capacity at its Turkmenbashi Refineries Complex in 2015. The main goal is to increase the production of petroleum goods, Petroleum and Mineral Resources Ministry said.

It is planned to complete the construction of two plants engaged in the production of high-octane liquefied gas purified from impurities, and the production of high-octane A-95 and A-98 gasoline.

Construction of the modern complex of production of asphalt fuel and the plant of production of polypropylene film will be carried out as well.

Also, the Turkmenbashi Complex should start the construction of a number of new modern facilities engaged in the production of road bitumen and construction bitumen, as well as diesel fuel that meets international quality standard of Euro-5.

Turkmenistan is one of the key players in the energy market of the resource-rich Caspian region. The Central Asian state has the world's fourth largest natural gas reserves after Russia, Iran, and Qatar, and produces about 70-80 billion cubic meters of gas a year.

The country also produces about 10 million tons of oil annually, a significant part of which is processed in local refineries.

Currently, domestic products exported to more than 40 world countries, including Turkey, China, Russia, UAE, Iran, Germany, U.S., UK, Ukraine, Switzerland are sold on the exchange.

The country plans to bring its oil refining industry capacity to 15 million tons of oil per year in 2015, up to 20 million tons in 2020, up to 22 million tons in 2025, and up to 30 million tons in 2030.

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Aynur Karimova is AzerNews’ staff journalist, follow her on Twitter: @Aynur_Karimova

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