Energy-rich Turkmenistan has awarded a $9.7 billion contract to a consortium of companies from China, South Korea and the United Arab Emirates to develop one of the world’s largest natural gas fields, a state newspaper reported Wednesday.
The vast field near the Central Asian nation’s eastern border with Afghanistan has been subject of vigorous international lobbying by companies from China, the West and Russia, who are all vying for a share in Turkmenistan’s vast energy riches.
According to British auditors Gaffney, Cline and Associates, the South Yolotan field is likely to hold around 7.85 trillion cubic yards (6 trillion cubic meters) of gas, making it possibly the fourth- or fifth-largest field in the world.
The companies awarded the contract to develop the field and build gas refining plants include China’s CNPC, LG International Corp. and Hyundai Engineering from South Korea, and London-listed companies Gulf Oil & Gas FZE and Petrofac International from the UAE.
The deal was formalized Tuesday in a signing ceremony in Ashgabat, the Turkmen capital, presided over by President Gurbanguli Berdymukhamedov, state-run newspaper Neutral Turkmenistan reported. (AP)
