Establishment of gas-chemical industry in Turkmenistan will open thousands of new jobs
More than 6,900 new jobs will be created in Turkmenistan's oil and gas complex in the coming years, outlining the main directions for investing in the country's economy. The investments in the amount of 159.9 billion manat will be directed to develop the productive potential of this industry in accordance with the Program of Social and Economic Development adopted today for 2018-2024.
For comparison, this year about 8.9 billion manat was invested in the oil and gas sector.
The major investment projects of the industry include a gas chemical complex currently under construction in Ovadandepe. This enterprise will produce 600 thousand tons of clean gasoline of A-92 grade from natural gas. 800 new jobs will be created at this facility.
Another gas-chemical complex is being built in Kiyanly settlement, designed to produce 386,000 tons of polyethylene and 81,000 tons of polypropylene per year. About 1200 new jobs will be created on the commissioning of this facility.
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With an emphasis on deeper and more comprehensive processing of natural gas and increasing the share of its processed products in exports, Turkmenistan will significantly expand its positions not only in the primary energy market, such as natural gas and crude oil, but will also take a worthy place in an even more profitable market of expensive gas-chemical products.
To date, the Fuel and Energy Complex represents 45.5 per cent of the value of the total output produced in the country. According to the State Statistics Committee of Turkmenistan, in January-September 2017, gas production increased by 7.8 per cent, and gross oil production decreased by 5.2 per cent.
In general, the export of Turkmen gas for January-August has increased both in value (13.9 per cent) and in physical terms (7.7 per cent). The increase in the total volume of the country's exports was affected by the increase in export prices for petroleum products - with a decrease in physical volume by 1.7 per cent, their value increased by 27 per cent.
