President of Turkmenistan Gurbanguly Berdimuhamedov, who was on a working trip to Balkan Velayat, attended the ceremony of laying the foundation stone of the gas chemical complex producing polyethylene and polypropylene in Kiyanly settlement.
This event marks another significant step to implement the Oil and Gas Industry Development Programme of Turkmenistan for the period till 2030 that puts an objective of increasing gas production and processing, including through the full-scale development of abundant hydrocarbon resources of the Caspian region.
The construction of natural gas processing plants opens up qualitatively new prospects for the various sectors of the national economy. Currently, experts estimate reserves in the Turkmen sector of the Caspian Sea at 12.1 billion tons of oil and condensate and 6.1 trillion cubic metres of gas. The gas and oil fields in the region, including Magtymguly, Diyarbekir and Garagol Deniz, have been prepared to be put into commercial production. As was reported, the gas processing plant and the onshore gas terminal on the Caspian coast were put into operation in 2011. The availability of abundant resources and transport and other infrastructure determined the choice of Kiyanly settlement as the location of the large-scale industrial facility.
Turkmenistan has been called ‘the crossroads of seven roads’ since ancient times. Caravan routes of the Great Silk Road, which was the road of cultural and trade cooperation between the peoples of East and West, lay across these lands thousands of years ago. The advantages of the favourable geographical location of the countries of Central Asia and the Caspian Sea basin and modern transit transport infrastructure being developed in the country in the new historical epoch contribute to the effective implementation of the economic potential. Kazakhstan-Turkmenistan-Iran railway, the construction of which has entered the final stage, the international sea port in Turkmenbashi and Ashgabat-Turkmenbashi-Farap highway are its main components.
Addressing the ceremony participants, the Turkmen leader emphasized that our Motherland that was moving forward as swiftly as a fast horse was intensively integrating into the world economy. This is clearly evidenced by the accelerated growth of the national economy, including the fuel and energy sector.
The Turkmen leader said that this strategic sector was becoming a priority sphere of the economy in the epoch of might and happiness. Therefore, the ambitious social and economic development projects and international projects being implemented in Turkmenistan attach critical importance to the development of the fuel and energy sector.
The increasingly wide scope of activities is currently carried out to modernize and diversify the national economy and enhance the capacity of the key segment of the national economy. The industry is not limited to the saturation of the domestic market with products. Exports of the products of Turkmenistan’s fuel and energy sector, which are high demand on the world market, increase from year to year.
The new gas chemical complex is designed to produce 386,000 tons of polyethylene and 81,000 tons of polypropylene per year.
President Gurbanguly Berdimuhamedov noted that the infrastructure of the gas chemical and gas processing industries was being built in the country as to more effectively use natural resources, which enables to manufacture products in great demand in world markets.
In conclusion, President Gurbanguly Berdimuhamedov cordially congratulated those present on the remarkable event – the launch of the construction of the gas chemical complex meeting the highest standards and wished everybody good health, prosperous and happy life, every success in the work on the further development of Turkmenistan’s fuel and energy sector.
The floor was given to Vice Chairman and Chief Executive Officer of LG International Corp. Mr. Lee Hee-Beom. Focusing on the significance of the event, the guest noted that Balkan Velayat of Turkmenistan was a unique region in terms of beautiful nature of the Caspian seashore as well as the presence of enormous mineral reserves. Another super-modern polyethylene and polypropylene plant to be built in Kiyanly settlement, symbolizing a contribution of the Republic of Korea and Japan to building up the capacity of Turkmenistan’s petrochemical and gas chemical industries, will replenish the industrial infrastructure in the maritime region in a few years.
Addressing the ceremony, Chief Executive Officer and President of Hyundai Engineering Co. Ltd. Mr. Wee-Chul Kim expressed sincere admiration for the rapid pace of development of Turkmenistan. The representative of the business community of the Republic of Korea emphasized that it was the result of the prudent and far-sighted policy of the President of Turkmenistan. In this regard, the project of the polyethylene and polypropylene plant will certainly promote economic prosperity of the country.
Hyundai Engineering Co. Ltd. is a long-term partner of Turkmenistan that has implemented the important infrastructure projects on oil and gas exploration and development and in the petrochemical industry. These include the project of the gas treatment plant. The large-scale project on modernization of Turkmenbashi oil refineries is near completion.
Congratulating the ceremony participants on the remarkable event, Chief Executive Officer, President and Representative Director of Toyo Engineering Corp. Mr. Katsumoto Ishibashi expressed sincere gratitude to President Gurbanguly Berdimuhamedov for his unceasing concern and close attention to the development of Turkmenistan’s gas and petrochemical industries that had made it possible to launch this epoch-making project.
The guest said that the ongoing work in this field vividly illustrated enormous efforts made to turn Turkmenistan into a prosperous country and improve the people’s welfare as well as spotlighted the significance attached to the state support for the industry.
Mr. Katsumoto Ishibashi noted that the ceremony was of particular importance for the consortium of companies: Hyundai Engineering Co. Ltd., LG International Corp. and Toyo Engineering Corp. that would build the first polyethylene and polypropylene plant in our country. This project can be therefore regarded as a landmark in the history of business partnership.
For over 50 years, Toyo Engineering Corp. has been implementing a wide range of projects in chemical and petrochemical industries in Russia and CIS countries and has designed and built over 60 plants with financial support of the Japan Bank for International Cooperation.
Mr. Katsumoto Ishibashi noted that they were honoured to contribute to the development of Turkmenistan’s gas chemical and petrochemical industries and confirmed the readiness of Toyo Engineering Corp. to offer its tremendous expertise, know-how and advanced developments in environmental safety and protection to our country.
The Turkmen leader thanked the top managers of the companies for the work carried out and focused on the willingness of Turkmenistan to build up partnership with the international business communities that actively contributed to the ambitious projects to develop the industrial sector of Turkmen economy.
President Gurbanguly Berdimuhamedov headed for the ceremony venue. To the applause of those present, the Turkmen leader threw the container with the message to future generations of Turkmen citizens, which was signed during the ceremony, into the foundation pit of the new plant.
Congratulating once again those present on the remarkable event, President Gurbanguly Berdimuhamedov cordially bade farewell to the ceremony participants and left for the international airport in Turkmenbashi.
The Turkmen leader returned to Ashgabat on that day.
This event marks another significant step to implement the Oil and Gas Industry Development Programme of Turkmenistan for the period till 2030 that puts an objective of increasing gas production and processing, including through the full-scale development of abundant hydrocarbon resources of the Caspian region.
The construction of natural gas processing plants opens up qualitatively new prospects for the various sectors of the national economy. Currently, experts estimate reserves in the Turkmen sector of the Caspian Sea at 12.1 billion tons of oil and condensate and 6.1 trillion cubic metres of gas. The gas and oil fields in the region, including Magtymguly, Diyarbekir and Garagol Deniz, have been prepared to be put into commercial production. As was reported, the gas processing plant and the onshore gas terminal on the Caspian coast were put into operation in 2011. The availability of abundant resources and transport and other infrastructure determined the choice of Kiyanly settlement as the location of the large-scale industrial facility.
Turkmenistan has been called ‘the crossroads of seven roads’ since ancient times. Caravan routes of the Great Silk Road, which was the road of cultural and trade cooperation between the peoples of East and West, lay across these lands thousands of years ago. The advantages of the favourable geographical location of the countries of Central Asia and the Caspian Sea basin and modern transit transport infrastructure being developed in the country in the new historical epoch contribute to the effective implementation of the economic potential. Kazakhstan-Turkmenistan-Iran railway, the construction of which has entered the final stage, the international sea port in Turkmenbashi and Ashgabat-Turkmenbashi-Farap highway are its main components.
Addressing the ceremony participants, the Turkmen leader emphasized that our Motherland that was moving forward as swiftly as a fast horse was intensively integrating into the world economy. This is clearly evidenced by the accelerated growth of the national economy, including the fuel and energy sector.
The Turkmen leader said that this strategic sector was becoming a priority sphere of the economy in the epoch of might and happiness. Therefore, the ambitious social and economic development projects and international projects being implemented in Turkmenistan attach critical importance to the development of the fuel and energy sector.
The increasingly wide scope of activities is currently carried out to modernize and diversify the national economy and enhance the capacity of the key segment of the national economy. The industry is not limited to the saturation of the domestic market with products. Exports of the products of Turkmenistan’s fuel and energy sector, which are high demand on the world market, increase from year to year.
The new gas chemical complex is designed to produce 386,000 tons of polyethylene and 81,000 tons of polypropylene per year.
President Gurbanguly Berdimuhamedov noted that the infrastructure of the gas chemical and gas processing industries was being built in the country as to more effectively use natural resources, which enables to manufacture products in great demand in world markets.
In conclusion, President Gurbanguly Berdimuhamedov cordially congratulated those present on the remarkable event – the launch of the construction of the gas chemical complex meeting the highest standards and wished everybody good health, prosperous and happy life, every success in the work on the further development of Turkmenistan’s fuel and energy sector.
The floor was given to Vice Chairman and Chief Executive Officer of LG International Corp. Mr. Lee Hee-Beom. Focusing on the significance of the event, the guest noted that Balkan Velayat of Turkmenistan was a unique region in terms of beautiful nature of the Caspian seashore as well as the presence of enormous mineral reserves. Another super-modern polyethylene and polypropylene plant to be built in Kiyanly settlement, symbolizing a contribution of the Republic of Korea and Japan to building up the capacity of Turkmenistan’s petrochemical and gas chemical industries, will replenish the industrial infrastructure in the maritime region in a few years.
Addressing the ceremony, Chief Executive Officer and President of Hyundai Engineering Co. Ltd. Mr. Wee-Chul Kim expressed sincere admiration for the rapid pace of development of Turkmenistan. The representative of the business community of the Republic of Korea emphasized that it was the result of the prudent and far-sighted policy of the President of Turkmenistan. In this regard, the project of the polyethylene and polypropylene plant will certainly promote economic prosperity of the country.
Hyundai Engineering Co. Ltd. is a long-term partner of Turkmenistan that has implemented the important infrastructure projects on oil and gas exploration and development and in the petrochemical industry. These include the project of the gas treatment plant. The large-scale project on modernization of Turkmenbashi oil refineries is near completion.
Congratulating the ceremony participants on the remarkable event, Chief Executive Officer, President and Representative Director of Toyo Engineering Corp. Mr. Katsumoto Ishibashi expressed sincere gratitude to President Gurbanguly Berdimuhamedov for his unceasing concern and close attention to the development of Turkmenistan’s gas and petrochemical industries that had made it possible to launch this epoch-making project.
The guest said that the ongoing work in this field vividly illustrated enormous efforts made to turn Turkmenistan into a prosperous country and improve the people’s welfare as well as spotlighted the significance attached to the state support for the industry.
Mr. Katsumoto Ishibashi noted that the ceremony was of particular importance for the consortium of companies: Hyundai Engineering Co. Ltd., LG International Corp. and Toyo Engineering Corp. that would build the first polyethylene and polypropylene plant in our country. This project can be therefore regarded as a landmark in the history of business partnership.
For over 50 years, Toyo Engineering Corp. has been implementing a wide range of projects in chemical and petrochemical industries in Russia and CIS countries and has designed and built over 60 plants with financial support of the Japan Bank for International Cooperation.
Mr. Katsumoto Ishibashi noted that they were honoured to contribute to the development of Turkmenistan’s gas chemical and petrochemical industries and confirmed the readiness of Toyo Engineering Corp. to offer its tremendous expertise, know-how and advanced developments in environmental safety and protection to our country.
The Turkmen leader thanked the top managers of the companies for the work carried out and focused on the willingness of Turkmenistan to build up partnership with the international business communities that actively contributed to the ambitious projects to develop the industrial sector of Turkmen economy.
President Gurbanguly Berdimuhamedov headed for the ceremony venue. To the applause of those present, the Turkmen leader threw the container with the message to future generations of Turkmen citizens, which was signed during the ceremony, into the foundation pit of the new plant.
Congratulating once again those present on the remarkable event, President Gurbanguly Berdimuhamedov cordially bade farewell to the ceremony participants and left for the international airport in Turkmenbashi.
The Turkmen leader returned to Ashgabat on that day.