Turkmenistan opens door to South Korean downstream investment

Submitted by Paddy Harris on Mon, 2014-06-23 08:54

23rd June 2014

South Korean leader Park Geun-Hye on Friday oversaw the signing of a USD 4bn agreement to build natural gas-processing plants in the isolated energy-rich Central Asian nation of Turkmenistan

Turkmenistan opens doors to South Korean downstream investment

Park, who was on her first visit to Turkmenistan as part of a Central Asia tour, said the two countried have much to offer each other

Park and her host Gurbanguly Berdymukhammedov presided over the inking of a number of agreements including a preliminary deal between state gas company Turkmengaz and South Korea's LG and Hyundai to build gas-processing plants.

"Today we've signed two agreements to implement two major projects worth USD 4bn," said Berdymukhammedov.

Park, who was on her first visit to Turkmenistan as part of a Central Asia tour, said the two countried have much to offer each other.