This is a best prospect industry sector for this country. Includes a market overview and trade data.
There are two oil refineries in Turkmenistan: one in Turkmenbashy and one in Seydi. The Turkmenbashy oil refinery has a refining capacity of more than 10 million tons of oil per year as of May 2016. The refinery produces a range of products, including unleaded gasoline, petroleum coke, road bitumen, laundry detergent, hydro-treated diesel, and lube oil. The government has demonstrated interest in attracting foreign investment to build factories producing end-user petroleum based products such as detergents and tires.
The refinery reports that its products are exported to Russia, China, Iran, Afghanistan, Turkey, Pakistan, Tajikistan, and Japan.
Turkmenistan has invested $900 million in a number of projects designed to increase the country’s refining capacity by 95 percent by 2030, including a facility for coking (carbonization) and tar de-asphalting with an annual capacity of 900,000 and 500,000 tons, respectively. The government also constructed new facilities to produce bitumen and polypropylene film, as well as an oil refinery with a capacity of 3 billion tons per year. Turkmenistan has also commissioned a feasibility study regarding the construction of a new oil refinery in its Balkan province.
The government contracted the consortium of Hyundai Engineering (Korea), LG International (Korea) and Toyo Engineering (Japan) to construct a new $3.4 billion gas chemical complex in Kiyanly village of Balkan province. Construction was completed in October 2018. The facility can produce up to 386,000 tons of polyethylene and 81,000 tons of polypropylene annually using 5 bcm of natural gas as feedstock.
The Turkmen Government wants to diversify and create natural gas refining facilities to produce polyethylene, polyvinyl chloride, methanol, formaldehyde, resins, synthetic rubber, and paint materials.
In June 2019 Turkmenistan opened a $1.7 billion gas-to-gasoline plant at Ovadandepe in Ahal province. The new complex is designed to process 1.785 bcm of natural gas into 600,000 tons of A-92 gasoline per year. A framework agreement for this project was signed between State Concern TurkmenGas and a consortium of companies including Kawasaki Heavy Industries Ltd (Japan) and Rönesans Türkmen (Turkey) in 2013. In April 2016, the Ministry of Oil & Gas announced that a consortium of South Korean LG International Corp., Hyundai Engineering Co, and Japanese Itochu Corporation will start the construction of another plant to produce synthetic liquid fuels (GTL, gas-to-liquid). The complex is designed to process 3.7 bcm of natural gas into 1,100,000 tons of diesel fuel, as well as more than 400,000 tons of straight-run gasoline (naphtha), per year.
The country has plans to build additional GTL plants in the coming years.
Various modern oil and gas processing units; gas-to-liquid fuel equipment; oil and oil products storage reservoirs.
Construction of oil and gas processing units; new technologies in gas-to-liquid fuel processing; production and storage of petroleum products