Saturday, 13, July, 2024

Russian companies and financial institutions intend to take part in the construction of Uzbekistan GTL plant (OLTIN YO'L GTL).

According to Peter Fradkov, Director General of the Russian Export Center, his organization is holding negotiations within the plant construction project which will use purified methane produced by Shurtan Gas Chemical Complex.

"The Russian companies’ participation stands at over $ 300 million, we will provide insurance coverage and direct credits," Fradkov said.

Earlier, the Government of Uzbekistan, Gazprombank and the Russian Export Center concluded a framework agreement on the joint implementation of investment projects in the oil and gas, chemical, mining and metallurgical sectors in particular, the financing by Gazprombank of the Uzbekistan GTL project, including financing of supply of air separation units by Cryogenmash.

OLTIN YO'L GTL will be one of the most advanced energy plants in the world, producing high quality fuels to deliver a cleaner transport future, and support growth and development of Uzbekistan.

At the end of 2016 the President of Uzbekistan issued decree "On measures for implementation of the investment project - Production of synthetic liquid fuels from purified methane of Shurtan Gas Chemical Complex."

Earlier it was reported that the cost of GTL plant will be about $ 4 billion. When commissioned, OLTIN YO’L GTL, a 38,000 bpd plant, will produce a combination of GTL diesel and GTL naphtha and, an important development in the application of GTL fuels, GTL kerosene for the aviation sector.

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