Cost of GTL construction plant increases by quarter in Uzbekistan
Tashkent, Uzbekistan, March 2
By Demir Azizov - Trend:
The cost of the gas-to-liquids (GTL) production plant construction in Uzbekistan will hit $ 5.6 billion, the Asian Development Bank (ADB) reported on Feb. 28.
It was earlier reported that the plant construction in the country is estimated at $4.1 billion.
The plant construction will begin in autumn 2014 and will be completed in the first quarter of 2018 (compared to the previously planned date of construction completion in August 2017), ADB said.
The project participants intend to approve a plan for its funding in May 2014, ADB added.
Uzbekneftegaz National Holding Company (44.5 percent), the South African Sasol Ltd. (44.5 percent), the Malaysian Petronas International Corporation Ltd. (11 percent) are the participants of the plant construction project on the basis of the Shurtan Gas Chemical Combine.
It is planned that the plant will process 3.5 billion cubic meters of gas per year and annually produce 860,000 tons of diesel fuel, 360,000 tones of jet fuel, 390,000 tons of naphtha and 11,000 tons of liquefied gas.
The raw material for fuel production will be the methane obtained from Shurtan in the volume of 3.5 billion cubic meters.
Uzbekneftegaz started constructing the external infrastructure facilities of the plant in Kashkadarya in July 2012.
Korean Hyundai Engineering & Construction will be involved in the technological construction.
A contract worth $2.33 billion was signed with this company in December 2013.
The project will be financed through the funds of the founders of the joint venture, as well as a consortium of banks and financial institutions.
Uzbekistan started forming a banking consortium to finance the plant construction in September 2013.
The GTL project will reduce the Uzbekistan's dependence on imported crude oil and will allow greater use of gas resources, according to the experts.
Shurtan was commissioned in 2001. The technology complex is designed to produce 150 kinds of polyethylene of high, medium and low pressure line.
The design capacity of Shurtan is 125,000 tons of polyethylene per year. The company produces 137 tons of liquefied gas, 130,000 tons of light condensate, and 4.2 billion cubic meters of tank gas and 4000 tons of sulphur a year.
Translated by NH