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Far East consortium to build multibillion dollar petrochemical plant in Turkemenistan

13th May 2014

A Japanese-South Korean consortium has been awarded a contract reportedly worth USD 3bn to build a large gas chemical complex for Turkmenistan’s state-run company, Turkmengas

Far East consortium to build multibillion dollar petrochemical plant in Turkemnistan
Turkmenistan is a country boasting abundant reserves of natural gas, and it has been maintaining high economic growth with the export of natural gas

The partners include Toyo Engineering, Hyundai Engineering, Hyundai Engineering and Construction, and LG International Corporation of Korea.

The complex will produce ethylene, high density polyethylene, and polypropylene from natural gas produced on the Caspian Sea shelf.

The plant is scheduled for completion in 2018.

Toyo’s share of the contract is reported to be over worth over USD 800m. It will be responsible for the engineering, procurement, and commissioning of the gas separation unit, ethylene and polypropylene production units.

Within the gas separation unit, Toyo’s Coreflux technology will be applied to recover ethane and LPG, and BASF’s Oase technology will be used for acid gas removal. Lummus’ technology will be applied for ethylene production, and W. R. Grace & Co.-Conn. for polypropylene.

Polymer products produced at this complex are planned to be exported and sold mainly in the Asia, EU and Turkish markets.

Turkmenistan is a country boasting abundant reserves of natural gas, and it has been maintaining high economic growth with the export of natural gas. The country is a promising market with strong investment potential, especially in petroleum and gas fields.

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