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ISTANBUL -- A Japanese-Turkish consortium has clinched a roughly $1.5 billion contract to build a large gas-to-liquids plant in Turkmenistan. Analysts say the arrangement could pave the way for more Japanese and Turkish companies to advance further into Central Asia and the Caucasus.
Kawasaki Heavy Industries of Japan and Ronesans Endustri Tesisleri, a leading Turkish construction company, on Tuesday signed the deal with Turkmengas, Turkmenistan's state-owned gas company.
The plant is to process 1.785 billion cu. meters of natural gas a year, producing 600,000 tons of gasoline with an octane rating of 92. The Japan Bank for International Cooperation will finance 85% of the project, which is to be completed by June 2018.
Turkmen President Gurbanguly Berdymuhamedov attended the signing ceremony in Ovadandepe, in the south-central part of the country. Local media reported that Berdymuhamedov met with Kawasaki Heavy and Ronesans officials and said the project is an important step toward developing Turkmenistan's oil and gas industry.
This is not the first Turkish-Japanese collaboration in Turkmenistan. Last September, Ronesans won an order with Mitsui Engineering & Shipbuilding to build a $200 million sulfuric acid plant for state-run chemical company Turkmenhimiya. The facility in Turkmenabat, in the nation's northeast, is to process natural gas into 500,000 tons of sulfuric acid per year. The acid will be used in fertilizer production.
Ronesans has a strong presence in Central Asia and the Caucasus. It is currently involved in 25 projects across the region, worth a total of $1.5 billion. So far, its endeavors in Turkmenistan are valued at $1.363 billion, with the tally for Kazakhstan coming to $59 million and that for Azerbaijan standing at $58 million.
Ronesans and Kawasaki Heavy, along with Japanese trader Sojitz, are also working on a fertilizer plant in Mary, in southeastern Turkmenistan. The facility is to come onstream by the end of this year.
A consortium of leading Turkish conglomerate Calik Holding and top Japanese trading house Mitsubishi Corp. recently landed a $1.3 billion deal to build a fertilizer plant in Turkmenistan as well.
Culturally close
Japanese and Turkish companies are finding that they complement each other well. The former bring financial and technological muscle; the latter excel at securing human resources and navigating Central Asian and Caucasian cultures.
Common roots help. The Turkish trace their heritage to the Tujue, a nomadic people who lived in the region in ancient times. Of the eight countries that make up Central Asia and the Caucasus, five use languages that originate from Turkish.
Government leaders of Azerbaijan and Turkey often speak of "one nation, two states." A Turkish businessman stationed in Turkmenistan said Turks can almost understand the Turkmen language after living in the country for about four months.
Turkmenistan gas plant project latest sign of pickup in Japanese-Turkish cooperation- Nikkei Asian Review
Kawasaki Heavy Industries of Japan and Ronesans Endustri Tesisleri, a leading Turkish construction company, on Tuesday signed the deal with Turkmengas, Turkmenistan's state-owned gas company.
The plant is to process 1.785 billion cu. meters of natural gas a year, producing 600,000 tons of gasoline with an octane rating of 92. The Japan Bank for International Cooperation will finance 85% of the project, which is to be completed by June 2018.
Turkmen President Gurbanguly Berdymuhamedov attended the signing ceremony in Ovadandepe, in the south-central part of the country. Local media reported that Berdymuhamedov met with Kawasaki Heavy and Ronesans officials and said the project is an important step toward developing Turkmenistan's oil and gas industry.
This is not the first Turkish-Japanese collaboration in Turkmenistan. Last September, Ronesans won an order with Mitsui Engineering & Shipbuilding to build a $200 million sulfuric acid plant for state-run chemical company Turkmenhimiya. The facility in Turkmenabat, in the nation's northeast, is to process natural gas into 500,000 tons of sulfuric acid per year. The acid will be used in fertilizer production.
Ronesans has a strong presence in Central Asia and the Caucasus. It is currently involved in 25 projects across the region, worth a total of $1.5 billion. So far, its endeavors in Turkmenistan are valued at $1.363 billion, with the tally for Kazakhstan coming to $59 million and that for Azerbaijan standing at $58 million.
Ronesans and Kawasaki Heavy, along with Japanese trader Sojitz, are also working on a fertilizer plant in Mary, in southeastern Turkmenistan. The facility is to come onstream by the end of this year.
A consortium of leading Turkish conglomerate Calik Holding and top Japanese trading house Mitsubishi Corp. recently landed a $1.3 billion deal to build a fertilizer plant in Turkmenistan as well.
Culturally close
Japanese and Turkish companies are finding that they complement each other well. The former bring financial and technological muscle; the latter excel at securing human resources and navigating Central Asian and Caucasian cultures.
Common roots help. The Turkish trace their heritage to the Tujue, a nomadic people who lived in the region in ancient times. Of the eight countries that make up Central Asia and the Caucasus, five use languages that originate from Turkish.
Government leaders of Azerbaijan and Turkey often speak of "one nation, two states." A Turkish businessman stationed in Turkmenistan said Turks can almost understand the Turkmen language after living in the country for about four months.
Turkmenistan gas plant project latest sign of pickup in Japanese-Turkish cooperation- Nikkei Asian Review
