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Turkmenistan awards giant gas field contract

Turkmenistan awards giant gas field contract

Energy-rich Turkmenistan has awarded a $9.7 billion contract to an international consortium to develop one of the world's largest natural gas fields.
State media reported Wednesday that the consortium includes companies from China, South Korea and the United Arab Emirates.
Independent auditors estimate South Yolotan may 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 vast field near the Afghan border has been subject of vigorous international lobbying among companies from China, the West and Russia, who are all vying for a share in Turkmenistan's vast energy riches.
The consortium includes China's CNPC, South Korea's LG International Corp. and Hyundai Engineering Co. and the UAE's Gulf Oil & Gas Fze and Petrofac International.


Updated : 2020-12-01 18:50 GMT+08:00