LG

Thanks to the Korea-Turkmenistan summit diplomacy, LG International gained a further momentum for its operations in Turkmenistan. On July 20, LG International signed three MOUs for for joint projects with Turkmenistan counterparts in the presence of the top leaders, comprised of MOUs for a gas chemical complex in Seydi (USD 2 billion), LG International’s participation in gas-to-liquid project (USD 3 billion), and LG International’s acquisition of the right to sell products from the existing petrochemical products (10 years, USD 7 billion), and a final contract for the right to sell products from the gas treatment (desulfurization) plant in Galkynysh (5 year, USD 750 million). With these deals, LG International has gained a further momentum to strengthen its business operations and position in Turkmenistan and to pursue government funded development projects.