Korea and Turkmenistan's economic ties grow closer through gas deal projects: ARIRANG NEWS

ARIRANG NEWS

Published on 27 Apr 2017

한국기업, 투르크메니스탄서 가스처리 플랜트 준공
This year marks the twenty-fifth anniversary of diplomatic ties between Korea and Turkmenistan, a central Asian country rich in natural resources. 

The two countries have developed closer cultural and economic ties in recent years, with a growing number of Korean companies doing business in the country.
Our Kim Hyesung reports from Turkmenistan. 

Korean and Turkmen engineers working side-by-side.

Welding, tubing, piping,….cracking natural gas into polyethylene and polypropylene, which can be used to make value added goods like plastic.


“As the holder of the world’s fourth largest natural gas reserves, Turkmenistan is looking to diversify its oil and gas industry, investing tens of billions of U.S. dollars here in Kiyanly on the Caspian Coast, to build a gas plant industrial complex.”


With a population of just five million and 90 percent of its land covered by desert, more than half of Turkmenistan's GDP comes from hydrocarbon gas like natural gas. 

A former Soviet Republic that gained independence in 1991, Turkmenistan is trying to reduce its reliance on Russia, opening a new pipeline to China in 2009, and industrializing through infrastructure building and gas plant projects, like this one between Korea, Turkmenistan, and Japan that started in Kiyanly in 2015.


“From design, engineering, construction to commissioning, we planned each stage in advance to make sure this mega project runs smoothly and safely. Once complete, the plant will produce around 50 tons of gas a year, contributing at least 700 to 800 million U.S. dollars to Turkmenistan's economy."

Three kilometers in width and length, at the gas plant site, over twelve-thousand workers from Hyundai Engineering and Turkmenistan's state-run Turkmengas work from Monday to Saturday.
The extremely hot summer weather and occasional sandstorms make working conditions difficult and unpredictable, but seeing each other almost every day, the two countries' people have developed a solid working relationship.


"Working for the last two-and-a-half years with the Hyundai people, who have technological expertise and a great work ethic has been a wonderful experience."

The three billion dollar gas plant project is scheduled to be completed by next year, and Hyundai engineering has already started the handover process, with training programs for local engineers underway.

But it's not an end, rather a new beginning that will likely open up new opportunities for the two countries, as Turkmenistan aims to diversify its oil and gas industries, and Korea seeks to find a new growth engine abroad.

Kim Hyesung, Arirang News, Kiyanly, Turkmenistan.