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CNPC to be part of JV to build gas chemical complex in Uzbekistan

September 20/2013

MOSCOW (MRC) -- China National Petroleum Corporation (CNPC) will join UzIndoramaGazChemical, a joint venture that will build a USD2.5 bln complex to produce polyethylene at the Mubarek Gas Refinery in Uzbekistan's Kashkadarya region, according to Azernews.

CNPC had signed a memorandum to join Uzbek national oil and gas company Uzbekneftegaz and Singapore's Indorama Group in the joint venture.

The equity is expected to be redistributed by the end of 2013. Uzbekneftegaz and Indorama formed the joint venture on an equal footing in May 2012. The complex will have capacity to produce 500,000 tpa of polyethylene.

The project will be funded by the investors and foreign bank loans.

The Mubarek refinery, which is controlled by Uzbekneftegaz subsidiary Uzneftegazdobycha, is Uzbekistan's biggest and is capable of processing 30 bcm of gas per year. It produces gas condensate, liquefied gas and industrial sulfur.

In recent years Uzbekistan has pursued the course of deep processing of liquefied hydrocarbons and natural gas.

In 2001, Uzbekneftegaz put into operation the Shurtan gas-chemical complex on the basis of the Shurtan gas-condensate field in Kashkadarya worth USD985 million. Its design capacity is 125,000 tons of polyethylene, 100,000 tons of liquefied gas and 100,000 tons of unstable condensate per year.

Uzbekneftegaz and a consortium of Korean companies led by Kogas are implementing a project to build the Ustyurt gas-chemical complex on the basis of the Surgil field. Its capacity will allow processing 4 billion cubic meters of natural gas per year and produce 400,000 tons of polyethylene and 100,000 tons of polypropylene. The cost is USD4.2 billion.

Uzbekistan is among the top 10 largest gas-producing countries in the world with natural gas reserves of about 1.9 trillion cubic meters.

As MRC reported earlier, China's CNCEC, National Chemical Engineering Corporation, has recently won the tender for the construction of a chemical complex for the polyvinyl chloride (PVC) production at "Navoiazot" production site, the largest manufacturer of chemical products in Uzbekistan.
Author:Margaret Volkova
Tags:PVC, PE, propylene, Navoiazot, Indorama Polymers, Shurtansky Gas-Chemical Plant, Uzbekistan.
Category:General News
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