Oil and Gas, Korea Oil and Gas
Turkmenistan is completing the construction of a large gas-chemical complex in the village of Kiyanly. Work on the future producer of polyethylene and polypropylene is made by 90%.
In Moscow, Gazprom and KOGAS have agreed on close cooperation in the field of liquefied natural gas supplies to Korea.
In the near future Turkmenistan intended to launch the third phase of development of the gas field Galkinish and bring the production to 95 billion cubic meters of gas, the chairman of the State Concern "Turkmengaz" Ashirguly Begliyev stated at a recent Ashgabat conference "Oil and Gas of Turkmenistan".
According to him, one of the major oil and gas projects in Turkmenistan is the industrial development of the largest Galkinish gas field, which is the second largest in the world, and will serve as a major source of natural gas for future export pipelines.
In the near future Turkmenistan intended to launch the third phase of development of the gas field Galkinish and bring the whole production there to 95 billion cubic meters of gas, the chairman of the State Concern "Turkmengaz" Ashirguly Begliyev stated at a recent Ashgabat conference "Oil and Gas of Turkmenistan".
According to him, one of the major oil and gas projects in Turkmenistan is the industrial development of the largest gas field "Galkynysh", which is the second largest in the world, and will serve as a major source of natural gas for future export pipelines.
Gazprom, the largest gas company in the world, chose the German Linde licensor for the Amur gas processing plant, the head of the Russian company Aleksey Miller informs.
"Today Gazprom has decided that this project will be implemented with the German company Linde. Also we see the prospects for the development of cooperation with this company in the field of LNG and import substitution", - Aleksey Miller states.
The JV Uz-Kor Gas Chemical in October will complete the construction of the Ustyurt gas chemicals complex in the Karakalpakistan, Uzbekistan, the chief specialist of the department of the uniform technical policy of Uzbekneftegas, S. Berdyev, said.
The complex will be launched in mid October. The Ustyurt gas chemicals complex will become the largest enterprise in the gas chemicals sector in the Central Asia.
In February 2008 Uzbekneftegas and a consortium from Korea Kor-Uz Gas Chemical Investment founded on the parity basis the JV Kor-Uz Gas Chemical Investment for the construction of the Ustyurt gas chemicals complex on the basis of the Surgil deposit. Currently the consortium comprises Kogas, Lotte and STX Energy.
In the first seven months of this year imports of polypropylene (PP) in Kazakhstan increased by 2% and amounted to about 9.6 thousand tons compared to the same period of 2014. Exports grew by 16% - to 16.3 thousand tons, a survey of DataScope for MRC informs.
According to customs statistics, in January-June 2015, foreign trade turnover of Russia made up $270.7 billion and it decreased by 32.6% in comparison with January-June 2014. The trade balance showed a surplus of $95.3 billion, which is by 16.7 billion less than in January-June 2014.
In January-June 2015, the export of Russia amounted to $183.0 billion, decreased by 28.8% as compared with January-June 2014. In January-June 2015, the basis of the Russian export to the non-CIS countries was fuel and energy products, the share of which in the commodity structure of the export to these countries amounted to 68.1% (in January-June 2014 - 75.3%).
In January-June 2015, the cost volume of energy products decreased by 34.5% as compared with January-June 2014, and the physical - increased by 10.3%. Among the energy goods the volume of exports of crude oil increased by 11.5%, electricity - by 25.0%, oil products - by 20.2%, including: kerosene - by 39.3%, diesel fuel - 18.0%, liquid fuels - by 23.5%. At the same time, the export volume of natural gas was reduced by 4.1%, coal - by 1.2%.
The export of electric energy from Russia to South Korea at the first stage of operation of the power bridge will make up 4 GW, the head of Rosseti, O. Budargin, said.
“We have been discussing this project for 3 years with KEPCО (Korea Electric Power Corporation). It is already being realized. A working group has been formed. It is engaged in the workout of the connection point, schedule of electric energy supply to South Korea. The first volume is only 4 GW but this is only beginning”, he said.
Previously Mr. Budargin said that the project of the power bridge “Vladivostok-Seoul” comprises the construction of 1,000 km of power lines. It is planned to construct the underwater cable.
Russia plans to modernize an oil processing plant in the Democratic People’s Republic of Korea.
This is the information by A. Tanner, CFO of the company Veya Investments Ltd, which is engaged in the supply of equipment for production, as well as for transportation and processing of oil.
“Veya Investment plans to invest into the modernization of an oil refinery in the city of Sinhveri”, a spokesman said. He has added: “We are ready to act as an investor and supplier of equipment.”