Turkmenistan grants oil and gas companies rights for raw material processing

Turkmenistan grants oil and gas companies rights for raw material processing

Baku. TurkicWorld:

Companies that were previously allowed only to extract oil and gas in Turkmenistan under the terms of licenses, will now be able to process raw materials into petrochemical and gas chemical products, including LNG, TurkicWorld reports.

The decision comes from amendments and additions made to the law of Turkmenistan 'On Hydrocarbon Resources'.

At the same time, companies will be exempt from paying taxes for the sale of petrochemical and gas chemical products. They will need to pay only those taxes that are provided for in article 48 of the law of Turkmenistan 'On Hydrocarbon Resources'.

In recent years, Turkmenistan's oil and gas sector has continued to develop actively, taking strategic steps to strengthen its position in the global energy market.

Government support and innovative approaches contribute to improving infrastructure and increasing the efficiency of extraction, processing and transportation of energy resources.