Turkmenistan opens $3.4b petrochemical plant

Turkmenistan inaugurated on Wednesday a $3.4 billion petrochemical plant as the Central Asian state seeks to both obtain greater value from natural gas and reduce its reliance on exporting it to China and Iran, reports AFP from Kiyanly, Turkmenistan.

The plant should produce 386,000 tonnes of polyethylene and more than 81,000 tonnes of polypropylene -- both used to make plastic -- by processing 5 billion cubic metres of gas per year, according to fuel and energy chief Myratgeldi Meredov.

President Gurbanguly Berdymukhamedov, who participated in the opening of the facility on the coast of the Caspian Sea, said it is part of the country's "extensive plans to diversify the Turkmen energy complex, to increase the economy's export potential by launching production of gas and chemical products that are in demand on the global markets."

While Turkmenistan sits on the world's fourth largest gas reserves, its isolation means it has struggled to take full advantage of them.

Turkmenistan opens $3.4b petrochemical plant

Turkmenistan inaugurated on Wednesday a $3.4 billion petrochemical plant as the Central Asian state seeks to both obtain greater value from natural gas and reduce its reliance on exporting it to China and Iran, reports AFP from Kiyanly, Turkmenistan. The plant should produce 386,000 tonnes of polyethylene and more than 81,000 tonnes of polypropylene -- both used to make plastic -- by processing 5 billion cubic metres of gas per year, according to fuel and energy chief Myratgeldi Meredov. President Gurbanguly Berdymukhamedov, who participated in the opening of the facility on the coast of the Caspian Sea, said it is part of the countrys extensive plans to diversify the Turkmen energy complex, to increase the economys export potential by launching production of gas and chemical products that are in demand on the global markets. While Turkmenistan sits on the worlds fourth largest gas reserves, its isolation means it has struggled to take full advantage of them.