BAKU, Azerbaijan, May 25. The Ministry of Investments, Industry and Trade of Uzbekistan, the US Air Products company, and Uzbekneftegaz JSC national company signed an investment agreement worth $1 billion on the development of a production complex for processing natural gas in Qashqadaryo region, Trend reports.
This complex is part of Uzbekistan GTL, one of the most modern energy enterprises in the world, which produces 1.5 million tons of synthetic liquid fuel with a high added value per year. The plans include the sale of products both in the domestic and foreign markets.
According to Seifi Ghasemi, Chairman of the Board of Directors, President and CEO of Air Products, the company is going to apply the most advanced technologies and knowledge in Uzbekistan.
"This agreement will ensure the production of high-quality and cheap fuel and meet the growing needs of the population. We hope for the development of this long-term and stable partnership, and we are also glad to see new opportunities for cooperation with Uzbekistan," he added.
At the ceremony, a number of advantages of using Air Products' expertise in the production based on deep natural gas processing at the GTL facility in Uzbekistan were also emphasized. These advantages included greater efficiency, lower production costs, and a decrease in hazardous emissions into the atmosphere.
On December 25, 2021, the world's fifth Uzbekistan GTL complex for the production of synthetic liquid fuel was launched in the Guzar district of the Qashqadaryo region. Before this complex, similar huge complexes were constructed in Malaysia, Nigeria, Qatar.
