RSS   Newsletter   Contact   Advertise with us

Japan-Turkmenistan sign 18 billion deal

Staff writer ▼ | October 27, 2015
Japan’s Prime Minister, Shinzo Abe, is on a week-long tour of Central Asia. On Friday, Abe was the first Japanese head of state to visit the landlocked Central Asian Republic.
Gurbanguly Berdymukhamedov
Cooperation   Abe and Berdymukhamedov
Japan’s PM and Turkmenistan’s President Gurbanguly Berdymukhamedov signed an $18 billion bilateral agreement. Broadly speaking, Japanese know-how will be used to upgrade energy production upstream, but will also help Turkmenistan to diversify its economy by developing new products, including gasoline, fertilizers, and electricity.

The agreement entails cooperation in energy production and the chemical industry. Japan’s engineering firm JGC will cooperate with local companies to develop natural gas fields to cater to China. A 2013 deal entails Turkmenistan exporting 65 billion cubic meters a year to China by 2020.

In addition, Japan’s Sumitomo Corp. will be a gas-fired power plant worth about $300 million, generating emerging for industrial use. Since 2014, Kawasaki Heavy Industries won a contract in Turkmenistan last year to build a facility for the production of gasoline from natural gas.