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Turkmenistan focuses on diversification of oil and gas industry

Turkmenistan focuses on diversification of oil and gas industry

Ashgabat, February 20 - Neftegaz.RU. The diversification of the oil & gas industry is a priority sphere of the Turkmen economy, Turkmen President Gurbanguly Berdimuhamedov said at the governmental meeting, Trend reported referring to the Turkmen government.

The reports of Deputy PM Myratgeldy Meredov and Advisor to the President on Oil & Gas Issues Yagshigeldy Kakayev were delivered during the meeting. The speakers delivered the reports on the ongoing work in the oil and gas complex in the context of the tasks related to the implementation of the country''s socio-economic development program for 2020-2025.

The president stressed the high importance of the measures related to improving the operation of the fuel and energy sector, increasing the efficiency of development of oil and gas fields and introducing best practices and the latest technologies into all structural divisions of the industry.

The president emphasized the need to constantly monitor the construction of the TAPI gas pipeline and the implementation of tasks arising from Turkmenistan''s Oil & Gas Development Program until 2030. Turkmenistan, according to BP report, ranks 4th in terms of gas reserves in the world and at this stage sells it to China and Russia.

Multi-billion projects are planned to be implemented jointly with foreign partners. Proposals were obtained from participants of international tenders, including the 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.