This is a best prospect industry sector for this country. Includes a market overview and trade data.
Last Published: 7/21/2019


There are two oil refineries in Turkmenistan, in Turkmenbashy and Seydi. The Turkmenbashy oil refinery has a refining capacity of more than 10 million tons of oil per year as of May 2016. The refinery produces a range of products, including unleaded gasoline, petroleum coke, road bitumen, laundry detergent, hydro-treated diesel, and lube oil. The government has demonstrated interest in attracting foreign investment to build factories producing end-user petroleum based products such as detergents and tires.

The refinery reported that its products are exported to Russia, China, Iran, Afghanistan, Turkey, Pakistan, Tajikistan, and Japan.

Turkmenistan has invested USD 900 million in a number of projects designed to help increase the country’s refining capacity by 95 percent by 2030. The projects include the construction of a facility for coking (carbonization) and tar de-asphalting with annual capacity of 900,000 and 500,000 tons, respectively. The government also constructed a facility to produce bitumen with an annual capacity of 38,000 tons as well as a facility to produce polypropylene film and an oil refinery with a capacity of 3 billion tons per year. Turkmenistan has commissioned a feasibility study regarding the construction of a new oil refinery in its Balkan province.

The government contracted the consortium of Hyundai Engineering (Korea), LG International (Korea) and Toyo Engineering (Japan) to construct a new USD 3.4 billion gas chemical complex in Kiyanly village of Balkan province.  Construction was completed in October 2018. The facilities have a feedstock capacity 5 bcm of gas annually to produce up to 386,000 tons of polyethylene and 81,000 tons of polypropylene.  As of June 2019, the facility is not operating at or near full capacity.

The Turkmen Government wants to diversify and create natural gas refining facilities to produce polyethylene, polyvinyl chloride, methanol, formaldehyde, resins, synthetic rubber, and paint materials.

In 2014, Turkmenistan launched the construction of a major USD 1.7 billion plant for processing natural gas to liquid fuel (GTL) or gasoline near Ovadandepe in Ahal province. The new complex is designed to process 1.785 bcm of natural gas per year into 600,000 tons of A-92 gasoline per year. The plant is projected to open in June 2019. A framework agreement for this project was signed between State Concern TurkmenGas and a consortium of companies including Kawasaki Heavy Industries Ltd (Japan) and Rönesans Türkmen (Turkey) in 2013. In April 2016, the Ministry of Oil & Gas announced that a consortium of South Korean LG International Corp., Hyundai Engineering Co, and Japanese Itochu Corporation will start the construction of a new plant to produce synthetic liquid fuels (GTL, gas-to-liquid). The complex is designed to process 3.7 bcm of natural gas into 1,100,000 tons of diesel fuel, as well as more than 400,000 tons of straight-run gasoline (naphtha), per year.
The country has plans to build two more GTL plants in the coming years.
Refining (No statistics or estimates available):

 2015201620172018 (Estimated)
Total Local Production****
Total Exports****
Total Imports****
Imports from the US
Total Market Size****
Exchange Rates3.
(total market size = (total local production + imports) - exports)

Leading Sub-Sectors

Various modern oil and gas processing units; gas-to-liquid fuel equipment; oil and oil products storage reservoirs.


Various modern oil and gas processing units; gas-to-liquid fuel equipment; oil and oil products storage reservoirs.

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Turkmenistan Energy Trade Development and Promotion