Turkmenistan on Wednesday awarded natural-gas contracts valued at $9.7 billion to several foreign energy companies, marking the latest step in quest to become a major gas exporter to Asia and Western Europe over the coming decade.
U.K. oil-services company will provide engineering services for the development of TUrkmenistan’s South Yolotan natural-gas field, one of the world’s biggest.
State -run China National Petroleum Corp., which has been positioning itself in recent years to get a major chunk of Turkmenistan’s hydrocarbons , was awarded a south Yolotan gas development deal valued at about $3.1 billion.Turkmenistan is hoping South Yolotan will help it become a major gas exporter to Asia and Western Europe over the next decade.
LG International Corp said it and south Korea’s Hyundai Engineering Co also signed a $1.48 billion deal to build a major gas processing facility.
The deals also included one awarded to Gulf Oil Gas FZE of the United Arab Emirates.