Uzbekistan, Tashkent, August 6 / Trend D. Azizov /
The National Holding Company Uzbekneftegaz launched the design of the production of diversified polymer products based on the Mubarek Gas Processing Plant in Kashkadarya region (southern Uzbekistan), worth about $480 million, a source said.
It is planned that the company will be able to produce 200,000 tons of synthetic rubber, polyisobutylene, solvents and other polymeric products annually.
Construction is scheduled for 2011 - 2014. In early 2011 feasibility study of the project must be submitted to the government for approval to announce a tender to choose the general contractor for construction in the second half of 2011.
The project will be financed through a loan from the Uzbek Fund for Reconstruction and Development, Uzbekneftegaz's own funds and loans of foreign banks.
Mubarek gas processing plant was commissioned in 1971. The plant can produce about 30 billion cubic meters of natural gas, and more than 570,000 tons of gas condensate per year.
It was reported that a unit for getting propane-butane mixture worth $220.7 million is being built at the Mubarek gas processing plant. About 12 billion cubic meters of natural gas will be processed and up to 258,000 tons of liquefied gas and up to 125,000 tons of gas condensate will be produced at full capacity. More than 80 percent of production will be exported.
The Swiss Zeromax GmbH won the tender for construction of the unit in January 2009. According to the terms of the tender, the winner must deliver complete sets of equipment rendering services (installation and commissioning). M.V. Frunze OJSC Sumy Research and Production Association will supply equipment to realize the project.
The project is financed by a loan from China Development Bank to the amount of $85 million, a loan by the Uzbek Fund for Reconstruction and Development worth $55,4 million, Uzbekneftegaz's own funds - $30,3 million, Uzbek banks' loans totaling $ 50 million.
Uzbekistan ranks second on natural gas production among the largest CIS countries. It is included in the ten largest gas-producing countries.
According to the State Statistics Committee, Uzbekistan reduced natural gas production by 3.8 percent - up to 61.408 billion cubic meters, liquefied natural gas - by 0.7 percent - up to 246.100 tons in 2009.