BAKU, Azerbaijan, Feb. 8
By Klavdiya Romakayeva - Trend:
Jizzakh Petroleum Oil and Gas Company reached significant progress in construction of a new gas chemical complex in Bukhara region of Uzbekistan based on the methanol to olefin conversion (MTO) process, Trend reports citing the Ministry of Energy of Uzbekistan.
According to the ministry, Jizzakh Petroleum is a major investor in a project located in the Bukhara region of Uzbekistan, which will use local raw materials to monetize natural gas through the production of high value added products in demand in the country and export-oriented products.
It is noted that the creation of the future mining and chemical complex will lead to the internal development of the textile industry, as well as import substitution and an increase in production in the automotive and construction industries.
Thus, based on in-depth research and evaluations conducted with partner Wood in early February 2021, six licensing agreements were signed with leading international companies.
|
Company |
Technology |
|
Chemtex (Invista) (US) |
Polyethylene terephthalate (PET) |
|
Scientific Design (US) |
Magnetoencephalography (MEG) |
|
Versalis (Italy) |
Low density polyethylene (LDPE) / Ethylene vinyl acetate (EVA) |
|
Haldor Topsoe (Denmark) |
Methanol |
|
Grace (US) |
Polypropylene (PP) |
|
Sinopec (China) |
Methanol to olefin (MTO |
These milestones follow the announcement in September 2020 of site selection and completion of marketing and feasibility studies by consulting and technical partners - IHS Markit, Nexant and Wood.
Other milestones include:
- Jizzakh Petroleum hired White & Case as legal consultant for the project and Mott MacDonald as an environmental and social impact assessment consultant;
- An agreement was signed with Wood on FEED;
- Formal letters of intent were received from SACE (Italian Export Credit Agency) and Bank Intesa Sanpaolo (Italy) for the financing of the FEED;
- Negotiations were held with Marco Polo International (US) and KTM Kimyevi Maddeler (Turkey) on the purchase of polymer products.
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Follow the author on Twitter: @romakayeva
