Sasol eyes Uzbek GTL project
9 April 2009
South African petrochemical company Sasol has teamed up with Uzbekneftegaz, the national oil and gas company of Uzbekistan, and Malaysia's Petronas to look into the possibility of developing a gas-to-liquids (GTL) project in the central Asian country.
The agreement, signed in the Uzbek capital Tashkent this week, follows the positive outcome of a joint pre-feasibility study based on Sasol's proprietary technology, which would be deployed to produce high-quality transportation fuels from Uzbekistan's abundant domestic gas reserves.
"The wealth of gas resources within Uzbekistan makes this an ideal location for a GTL facility, and we are delighted to mark this important milestone with our valued partners," Sasol Group GM Lean Strauss said in a statement this week.
The GTL project would enhance Uzbekistan's fuel production and also make a significant contribution to its economy.
The partners are currently in negotiation with the Uzbekistan government over the required project enablers, and plan to proceed to the next phase of the project, which will involve establishing a joint venture company.
The three companies have also signed a memorandum of understanding for mutual cooperation in the Uzbek oil and gas industry.
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