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Ustyurt Gas Chemical Complex was inaugurated in Uzbekistan

May 24/2016

MOSCOW (MRC) -- The Ustyurt Gas Chemical Complex at Surgil, Uzbekistan, has been inaugurated by South Korea's prime minister, Hwang Kyo-ahn; and his Uzbek counterpart, Shavkat Mirziyoyev, as per the government website of Uzbekistan.

The Surgil project was launched in 2006 by Uz-Kor a 50-50 joint venture of Uzbekneftegaz (Tashkent) and a Korean consortium comprising Lotte Chemical (Seoul), with 24.5%; Korea Gas Corp. (Seoul), 22.5%; and GS E&R (Seoul), 3%. The $4-billion complex consists of five plants: a gas-separation plant; ethylene, polyethylene (PE), and polypropylene (PP) production plants; and a power generation and modern infrastructure facilities.

The complex is expected to annually process 4.5 billion cubic meters of natural gas, produce up to 4 billion cubic meters of marketable gas, 387,000 tons of polyethylene, 83,000 tons polypropylene. It is considered that the main consumers will be Eastern Europe, Turkey and subsequently the western regions of China. The resource base of the project is Surgil, Vostochniy Berdah-Uchsay and Severniy Berdah fields.

Consortium of Korean companies joined Uzbekneftegaz to establish the Uz-Kor Gas Chemical joint venture in May, 2008. Ustyurt GCC project was implemented on a parity basis. Korean companies Korea Gas Corporation (Kogas), Lotte and STX Energy participated in the development of the project.

General contractors of the project were the Korean Samsung Engineering, GS Engineering and Hyundai Engineering. The construction of the complex began in 2011. The total cost of the project amounts to USD 4 billion. Participants of the project allocated approximately USD1.4 billion and attracted about USD2.5 billion from financial institutions in order to implement the project.
Author:Anna Larionova
Tags:PP, PE, propylene, ethylene, gas processing, Uzbekneftegaz, Usturtskiy GHK, Uzbekistan.
Category:General News
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