Turkmenistan Signs $1.7 Bn GTL Plant Deal With Japan, Turkey

Turkmenistan on Tuesday inked a $1.7 billion deal with a Turkish-Japanese consortium to build a gas-to-liquids plant, news agency Reuters reported.

The project will be implemented by Japan's Kawasaki Heavy Industries and Turkey's Ronesans Endustri Tesisleri.

The plant will process annually 1.785 billion cubic metres of natural gas, Reuters reported.

Japan Bank for International Cooperation will finance 85 percent of the cost of the project and Turkmenistan's state gas company Turkmengas the rest, a Turkmen official present at the ceremony told the news agency.

April 2018 is the expected date of the launch of the plant. 

Last week, Japan's Mitsubishi Corp. and Turkey's Gap Insaat laid the foundation for a $1.3 billion plant to produce carbamide from natural gas in Turkmenistan, another diversification project.