Reuters cited Turkmen President Kurbanguly Berdymukhamedov as saying that the power plant, to be developed by Japan-based Kawasaki Heavy Industries and Turkey’s Ronesans Endustri Tesisleri, can process 1.785 billion cubic metres of natural gas per year.
Berdymukhamedov said: "This is the first gas processing facility in the world which will employ a high-end technology to process natural gas into gasoline.
"It will produce here annually 600,000 tonnes of gasoline with octane rating of 92. The cost of the project is estimated at $1.7 billion.
A Turkmen official told the news agency that the 85% of the project cost will be financed by Japan Bank for International and the remaining will come from Turkmenistan’s state gas company Turkmengas
The power plant is scheduled to being operations in April 2018.
In June, Berdymukhamedov signed two agreements with LG International and Hyundai Engineering for the development of two plants, worth a total of $4bn, to process gas into liquids and other products.
Separately, Mitsubishi Gap Insaat laid the foundation for a $1.3bn plant, which can produce carbamide from natural gas, last week in Turkmenistan.
