Sasol, Uzbekneftegaz and PETRONAS signed an investment agreement with the Minister of Foreign Economic Relations, Investment and Trade for the Uzbekistan government, for the development and implementation of a Gas-to-liquids (GTL) project in Uzbekistan. By this the investors and the GTL project will enjoy investment protection and fiscal benefits, to ensure the successful implementation and operation of the facility. Depending on the final investment decision, the plant will be operational in the second half of this decade.
The GTL project will reduce Uzbekistan’s dependence on the importation of crude oil and transportation fuels and will diversify the utilisation of its domestic gas resources. It will also improve the quality of the fuel pool, reducing emissions, thereby securing the associated environmental benefits. Uzbekneftegaz will supply the feedstock from the already developed Shurtan group of gas fields and will off-take the majority of the production, under long term arrangements.
Article Views: 984