Turkmenistan plans to build three new oil refineries as well as boost capacity at its two existing plants by 2030. The investments are being made to accommodate a projected threefold increase in crude refining according to government sources.
With significant crude and gas resources, this is a natural next step ensuring the security of Turkmenistan’s energy supply in the downstream business. The country’s annual production of 10 million tonnes of crude oil per year is currently processed in its two state-owned refineries, the Turkmenbashi refinery on the Caspian coast and the eastern Seidi refinery, with each processing nearly half of the production.
Plans are supposedly in place to increase capacity at each refinery to 9 million tonnes per year and build a third refinery in the Balkan region by 2025. By 2030, two more refineries in the east of the country, one in Mary region and the other in Akhal region are being planned. Total refining volume post the capacity increases are not yet known but likely to be approximately 30 million tonnes.