TASHKENT, Uzbekistan, August 21. US Air Products has signed a $140 million deal to acquire Saneg’s (Uzbekistan’s private oil and gas company) hydrogen production assets at the Fergana Oil Refinery, Trend reports.
According to Saneg, this strategic acquisition is in alignment with the refinery's global modernization process and represents an important step forward in the expansion and optimization of its production capabilities. Importantly, the project will open the opportunity for wider commercial use of hydrogen on the industrial production market in Uzbekistan.
"This agreement with Air Products represents another significant step forward in our long-term modernization plans for the Fergana Refinery with the world leader in hydrogen production. Saneg has a strong relationship with Air Products – their commitment and expertise will help us to achieve our goals of maximizing the potential of Uzbekistan’s oil and gas sector, while supporting our country’s economic development. The agreement will also contribute towards one of the Uzbekistan government’s main priorities, strengthening our nation’s energy security by increasing domestic supplies of hydrogen," founder of Saneg Bakhtiyor Fazilov said.
Meanwhile, the Fergana Refinery, operated by Saneg, is currently undergoing a comprehensive modernization effort aimed at enhancing its production. These enhancements include the introduction of the hydrocracking process and the expansion of fuel processing depth to over 92 percent, specifically for the production of Euro-5 diesel fuel and aviation kerosene.
