Tashkent, Uzbekistan, Feb.13
By Demir Azizov- Trend:
Construction of Ustyurt Gas Chemical Complex (GCC) in Uzbekistan worth $ 4.1 billion will be completed by the end of 2015, a source close to the project told Trend Feb.13.
The source said that currently the operator of the project, the Uzbek-Korean joint venture Uz-KorGasChemical, completes the construction and connection of external infrastructure - water and energy facilities, telecommunications networks, railways and roads, as well as industrial water conduits and artificial pond. Simultaneously, the installation of process equipment is underway.
It was previously reported that the joint venture Uz-KorGasChemical, created on an equal footing by National Holding Company (NHC) Uzbekneftegaz and a consortium of Korean companies (South Korean Gas Corporation Kogas, the company Honam Petrochemical and STX Energy), launched a construction of Ustyurt GCC in 2011.
The complex will enable processing some 4.5 billion cubic meters of natural gas with production of around 3.7 billion cubic meters of marketable gas, 387,000 metric tons of polyethylene, 83,000 metric tons of polypropylene, 102,000 metric tons of pyrolysis gasoline and other products.
The project is financed at the expense of Uz-KorGasChemical funds in the total amount of $1.4 billion, loan resources for a total of $2.54 billion, attracted on the project financing principles and the Fund for Reconstruction and Development of Uzbekistan for $100 million.
The raw material base of the project is the field Surgil, East Berdakh-Uchsay and North Berdakh. The largest of them, Surgil, with reserves of about 120 billion cubic meters of gas, was opened about five years ago and is currently being developed by Uzbekneftegaz.
It is the second GCC, which will be commissioned in Uzbekistan. In 2001, Uzbekneftegaz commissioned the Shurtan gas-chemical complex on the basis of the Shurtan gas-condensate field on the production of polyethylene.
The design capacity of the enterprise considers processing of 3.9 billion cubic meters of natural gas and production of 125,000 metric tons of polyethylene.