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Markets :: Basic Chemicals :: Petrochemicals :: Propylene

LGI extends involvement in Turkmenistan projects, will offtake products

11:47 AM MDT | July 7, 2014 | Natasha Alperowicz

LG International (LGI; Seoul) and its partner Hyundai Engineering & Construction have signed a memorandum of understanding (MOU) with state-owned energy group Turkmengas (Ashgabat) to build a $2.0-billion gas chemical complex at Seydi, northeastern Turkmenistan, close to the border with Uzbekistan. They have also signed an MOU to participate in a $3.0-billion gas-to-liquids (GTL) project at a yet-to-be determined site, which will use natural gas to produce liquid fuels. Under the terms of the MOUs, the LGI and Hyundai will be responsible for financing...

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