Turkmenistan Sets Lofty Targets For Oil Refinery Growth And Modernization


(MENAFN- Trend News Agency) ASHGABAT, Turkmenistan, April 25. Turkmenistanaims to develop and modernize its oil refineries, Trend reports.

This was stated by the Chairman of Turkmennebit State Concern,Guvanch Agadzhanov, during the International Forum to AttractForeign Investments in Turkmenistan's Energy Sector, which istaking place in Paris.

"Turkmenistan aims to develop and modernize its oil refineriesthrough the introduction of new technologies, improving the qualityof products, their competitiveness, and compliance withinternational standards," he said.

He noted that currently Turkmenistan's refineries produceunleaded gasoline, aviation and technical kerosene, jet and dieselfuel, fuel oil, lubricating oils, polypropylene, heating oil, lightgasoil, petroleum coke, liquefied gas, construction and roadbitumen, etc.

At the same time, Agadzhanov added that these products form thebasis of the country's export potential.

Meanwhile, the purpose of this event is to increase the chancesof attracting foreign direct investment in all segments of theenergy sector of Turkmenistan and improve the regional debate onthe future sustainable development of energy.

Data from the Turkmengaz State Concern shows that the country'shydrocarbon resources are estimated at more than 71 billion tons ofoil equivalent.

This volume includes more than 20 billion tons of oil and morethan 50 trillion cubic meters of natural gas.

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