Rönesans Endüstri Tesisleri, one of the group companies of Turkish Rönesans Holding, signed a memorandum of understanding for the project of second plant for the production of gasoline from gas in Turkmenistan’s Ahal velayat (Ahal GTG), the Turkish news broadcaster Bloomberg HT reported on Wednesday.
Rönesans Holding finalized preliminary agreements for a project to be realized in Central Asia at the 14th Turkmen- Japanese Economic Conference held in Tokyo on December 22 last year.
The conference was chaired by Turkmen Foreign Minister, Vice-Premier Rashid Meredov and Itochu Cooperation Director Hiroyuki Tsubai. It was attended by Turkmen government officials, the Ambassador of Turkmenistan to Japan and representatives of Turkish and Japanese companies carrying out projects in the region.
In addition to the Rönesans, the MoU for the second Ahal GTG project was signed by Türkmenhimiýa (Turkmen Chemicals) State Concern, Kawasaki Heavy Industries and Itochu Cooperation.
Ahal GTG Plant was constructed by a consortium of Kawasaki Heavy Industries and Rönesans Endüstri Tesisleri and officially entered into operation in June 2019.The $1.7-billion plant is designed to annually process 1.785 billion cubic meters of natural gas and produce 600 thousand tons of ECO-93 gasoline that meets the EURO-5 standard, and 100 thousand tons of liquefied gas.
It has entered the Guinness Book of World Records with the title of "The World's First Plant Producing Gasoline from Natural Gas".