Baku, Azerbaijan, Nov. 1
By Fikret Dolukhanov – Trend:
Uzbekistan’s government approved the final funding structure for a project for the production of synthetic liquid fuel using purified methane from the Shurtan Gas Chemical Complex (UzGTL), the press service of Uzbekneftegaz announced, citing First Deputy Chairman of the Uzbek company Ulugbek Sayidov as saying at the meeting of creditors of the project.
He added that the government set the task to complete the coordination of all issues on financing and raising loans by the end of November 2018.
According to the information, a delegation of creditors arrived in Tashkent to participate in the meeting, which included representatives of the Export-Import Bank of Korea, the Korea Trade Insurance Corporation (KSURE), Gazprombank, Eximbank of Russia and the Russian Agency for Export Credit and Investment Insurance (EXIAR).
The UzGTL project provides for construction of a modern plant in the Kashkadarya region of Uzbekistan. The plant will annually produce over 1.5 million tons of high-quality synthetic liquid fuel that meets the EURO 5 standard.
Implementation of the UzGTL investment project is carried out in accordance with the decree of the president of Uzbekistan dated Dec. 29, 2016.
The project will expand the capacity for deep processing of natural gas, reduce imports of hydrocarbons, cover domestic demand for high-quality and environmentally friendly fuels, and provide the market with strategic products made from local raw materials.
Some 3.6 billion cubic meters of methane per year from the Shurtan Gas Chemical Complex will be used as raw material base for the projected plant for the production of synthetic liquid fuel.
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