Ashgabat will host the International Oil and Gas Conference and Exhibition of Turkmenistan (OGT 2024) from October 23 to 25. This international forum will contribute to strengthening regional dialogue on the further sustainable development of the energy sector, expanding opportunities for attracting foreign direct investment into Turkmenistan’s oil and gas industry, and providing an overview of the latest trends in the global energy system. One of the silver partners of this significant event is the South Korean company Hyundai Engineering Co., Ltd.
To underscore the importance of this investment partner, it is worth noting the Turkmen “natural gas” field, Galkynysh, whose development began in 2009. The initial stage of developing this energy giant was successfully completed in 2013 through the joint efforts of the State Concern “Turkmengas” and representatives of the oil and gas sectors of the Republic of Korea and China. As part of this project, Hyundai Engineering Co., Ltd. built a gas desulfurization plant. Due to its broad technical capabilities, the Korean company is not limited to one direction in the vast flow of opportunities that Turkmenistan possesses. Oil refining is also one of the key areas of its activity. In cooperation with LG International Corporation, Hyundai Engineering Co., Ltd. has launched several new technological units at the Turkmenbashy Complex of Refineries.
A prime example of cooperation between Turkmenistan and Hyundai Engineering Co., Ltd. is the construction of a petrochemical complex for the production of polyethylene and polypropylene in the village of Kiyanly on the Caspian coast. The project cost exceeded $3.4 billion. In addition to Hyundai Engineering Co., Ltd., the Turkmengas State Concern, the Korean company LG International Corporation, and the Japanese TOYO Engineering Corporation were responsible for its implementation. The plant meets global environmental standards and, even before construction was completed, was awarded a special certificate from the British organization TXF, ranking among the ten cleanest projects in Europe and Eurasia in 2014. Hyundai Engineering Co., Ltd. also focuses on training and educating local personnel. At the petrochemical complex in Kiyanly, the company opened a training center – a platform for studying theory and conducting practical classes for plant specialists. It trains over a hundred Turkmen workers involved in construction work in Kiyanly. The Center also provides advanced training for engineering specialists working at other industrial enterprises in Turkmenistan. This training expands the prospects and opportunities for specialists, who are then employed by Hyundai Engineering Co., Ltd. on other construction sites.
To date, over 150 delegates from 30 countries have confirmed their participation in the OGT 2024 conference. Meetings with the heads of Turkmenistan’s oil and gas complex, which will be organized during the event, will provide an opportunity for further discussion of new investment projects and exchange of views. The participation of global oil and gas companies will contribute to the further development of mutually beneficial cooperation among all forum participants.
More information can be found on the event website: www.ogt-turkmenistan.com