Uzbekistan plans to attract Qatar Petroleum to GTL project
08/04/2014 11:20
Uzbekistan plans to attract Qatar Petroleum to GTL project
08/04/2014 11:20
Tashkent, Uzbekistan (UzDaily.com) -- The Government of Uzbekistan is planning to attract Qatar Petroleum to the project on production of synthetic fuel (gas to liquid process, GTL) in Kashkadarya region in southern Uzbekistan, RIA Novosti reported quoting source in the Uzbek government.
The source said that the schedule of negotiations with Qatar Petroleum was developed and the results of the talks will be known in May. He added that the technological participation of Japan’s JOGMEC in the project and participation of equity capital.
Uzbekneftegaz, Petronas and Sasol Synfuels International (PTY) Limited signed charter and constituent agreement of joint venture Uzbekistan GTL in November 2009. Currently Sasol and Uzbekneftegaz hold 44.5% stake in the project, while Petronas – 11%.
In summer 2013, Sasol decided to cut its share in the project up to 25.5% to the beginning of the plant construction. Other part of stakes can be distributed among other stakeholders or new participant of the venture.
The plant will process 3.5 billion cubic meters of gas and produce 863,000 tonnes of diesel fuel, 304,000 tonnes of aviation kerosene, 395,000 tonnes of naphtha and 11,200 tonnes of liquefied gas. Hyundai Engineering & Construction (South Korea) will construct the technological part of the plant.
It is planned to complete construction of the plant by August 2017. Currently, the Uzbek side is constructing infrastructure of main objects.
The project with the cost of US$5.6 billion will be financed due to own resources of the venture’s founders, consortium of banks and financial institutions, which issue loans on project financing terms.
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