Cooperation in the oil and gas industry of Turkmenistan has become one of the main topics of the Turkmen-Singapore business forum held today in Singapore.
According To the state news Agency of Turkmenistan, the participants of the forum were clearly presented the achievements of the oil and gas complex of Turkmenistan, its structure, the main divisions and enterprises engaged in the development of hydrocarbon deposits, production, processing and transportation of oil and natural gas, the sale of gas and its products to both domestic and foreign markets, etc.
Turkmenistan's status as one of the leading energy powers in the world is confirmed by the assessment of natural gas reserves and resources at the Galkynysh field, the second largest in the world. This was also confirmed by the independent British company Gaffney, Cline & Associates. After the discovery of the Galkynysh supergiant field and a number of other large gas fields, Turkmenistan confidently occupies the 4th place among the oil and gas countries in terms of proven reserves of "blue fuel".
Galkynysh will be the main source of natural gas for future export pipelines. To date, industrial facilities with a production capacity of 30 billion cubic meters of commercial gas per year have been put into operation here.
According to the information, Singaporean businessmen also appreciated the scope and innovation of major investment projects recently implemented in Turkmenistan. These include the construction of Giyanly polymer plant commissioned in October 2018. It was built by a consortium of companies from the Republic of Korea - LG International Corp., Hyundai Engineering and Toyo Engineering, a Japanese Corporation. The total cost of the project is 3 billion 423 million us dollars. The production capacity of the enterprise is 386 thousand tons of polyethylene and 81 thousand tons of polypropylene per year.
Special attention was paid to the unique technology "Gas to gasoline "- GTG", applied at the gas chemical complex launched in June 2019 in Ahal province. Built by Japanese company Kawasaki Heavy Industries and Turkish “Rönesans Endüstri Tesisleri”, it is designed to produce 600 thousand synthetics, environmentally friendly gasoline of EURO-5 standard per year.
As for the long-term plans of the Turkmen fuel and energy complex, first of all, the project of the transnational gas pipeline Turkmenistan-Afghanistan-Pakistan-India (TAPI) with a total length of 1840 kilometers and a capacity of 33 billion cubic meters per year was presented to the Singapore audience. It will provide fuel for large, dynamic economies such as India and Pakistan. In the future, it will provide an opportunity to enter other growing markets in the Asia-Pacific region.
Currently, Turkmenistan is actively working on new directions in the field of gas chemistry, which will allow the country to take a worthy place in the market of gas chemical products with high added value. These are plastics, synthetic fibers, large organic products, synthetic detergents, surfactants, etc.
As reported, in the near future it is planned to launch several projects for the creation of gas chemical complexes: two in Giyanli of the Balkan velayat and one in the city of Yilanli of Dashoguz velayat and in the city of Seidi of Lebap velayat.
As for the prospects of cooperation with Singapore, there are service contracts for projects in the mining, construction, oil, gas and chemical industries, as well as the creation of joint service companies - for the maintenance and repair of gas turbines, compressor or pumping equipment, etc.
Singapore companies were also invited to participate in the construction of the transnational TAPI gas pipeline and other fuel and energy projects. In this regard, their management was acquainted with the Turkmen legislation in this area, which guarantees reliable legal protection of investors and their capital, the information says.
