Turkmenistan willing to attract foreign investments into fuel-energy complex

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Turkmenistan President Gurbangulu Berdymohammadov has given instructions on further strengthening of the production potential of the fuel-energy complex, application of innovative technologies in this field and attraction of foreign investments into the big infrastructure projects, reads the government’s statement released on February 20, 2016.

            This issue has been brought up at the session of the Cabinet of Ministers. Yagshigeldy Kakayev, Vice Premier, Director of the State Agency for Management and Utilization of Hydrocarbon Resources under Turkmen President, has made a report.

            The report contained information about state of affairs in the structural divisions of the fuel-energy sector and measures taken to implement the program of development of oil and gas industry of the country till 2030.

            The statement reads that Turkmen President emphasized that in addition to expansion of  development of hydrocarbon fields and increase in oil and gas production, upgrade of the petrochemical complex and construction of the updated gas processing plants should be a priority.

            In 2016 the Turkmen government plans to launch 428 big industrial objects with a total value over $9.7 billion. The government has also started construction of several facilities, including TAPI gas pipeline with the capacity of 33 bcm, gas chemical complex producing 467,000 tons of polyethylene and polypropylene, the plant manufacturing 600,000 tons of petrol by processing natural gas and etc.

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