Hyundai is Gold sponsor of the X Gas Congress of Turkmenistan
The dates of May 21-22 would be significant for both Turkmenistan and the whole world community as a whole due to the X Gas Congress, which to be held in Avaza National Tourist Zone on the coast of the Caspian Sea.
The Korean company Hyundai Engineering Co, LTD is one of the gold sponsors of this important event. To emphasize the importance of this investment partner, it is necessary to note the Galkynysh gas field of Turkmenistan, the development of which started in 2009.
Production at the Galkynysh field started in 2013by joint efforts of the State Concern Turkmengaz and oil and gas companies of Korea and China. Later, Hyundai continued to participate in the development of this field. The next step to its development was the construction of a gas desulfurization plant.
Due to its wide technical capabilities, the Korean company enjoys a number of opportunities for cooperation that Turkmenistan provides with. Oil refining is also one of the key areas of its activity.
In partnership with LG International Corp, Hyundai launched several new technological plants at the Turkmenbashi complex of oil refineries (TKNPZ), aimed at the annual production of 250 thousand tons of liquefied gas, 230 thousand tons of low-octane light gasoline, about 480 thousand tons of high-octane gasoline A-92, A-95 and A-98, 2 million tons of fuel oil, 1 million tons of gasoline and vacuum gasoil and 900 thousand tons of goudron. The project costs 5 billion US dollars.
Construction of polymeric plant in Kiyanly on the Caspian coast is another bright example of current partnership and joint projects between Turkmenistan and Hyundai. The project costs more than 3.4 billion US dollars. In addition to Hyundai, the State Concern Turkmengas, the South Korean company LG International Corp and the Japanese TOYO Engineering Corporation were responsible for its implementation.
A large gas chemical complex commissioned in October 2018 is envisaged to produce up to 5 billion cubic meters of marketable gas per year to extract 500 million cubic meters of ethane and propane. The Kiyanly gas chemical complex is designed for annual production of 386,000 tons of high density polyethylene and 81,000 tons of polypropylene. Up to 4.5 billion cubic meters of marketable gas is channeled into the gas pipeline system of the country.
The plant meets global environmental standards. Even before the end of construction, it was awarded a special prize by TXF (Great Britain), as one of the ten best environmentally friendly projects in Europe and Eurasia in 2014.
Hyundai focuses on the training and education of local personnel. In Kiyanly, the company opened a Center for training specialists – a platform to study the theory and practical training for plant specialists. More than a hundred Turkmen workers involved in construction work in Kiyanly are being trained at its base. In addition, technicians working at the gas chemical plant and other Turkmen industrial enterprises raise level of proficiency in the Center. This training helps to improve capabilities and opens new perspectives for specialists, who will be employed for Hyundai on other facilities being built.