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The agreement with the Republic of Uzbekistan and Uzbekneftegaz JSC includes ownership and operation of a natural gas-to-syngas industrial complex.
Air Products disclosed today that it has inked an investment agreement worth $1 billion with the Government of the Republic of Uzbekistan and Uzbekneftegaz JSC ("UNG") to purchase, own, and operate a natural gas-to-syngas processing facility in Uzbekistan's Qashqadaryo Province.
The aforementioned industrial complex forms an essential part of Uzbekneftegaz JSC's multi-billion dollar gas-to-liquid (GTL) facility. The plant produces 1.5 million tonnes annually of high-value synthetic fuels for domestic consumption and possible export.
The acquisition agreement, in line with Air Products' focus on on-site business operations, allows the company to acquire and run two large-scale air separation units, two large-scale auto-thermal reforming units, and a hydrogen production unit within the Uzbek GTL complex. These facilities will supply oxygen, nitrogen, hydrogen, and syngas to UNG under a long-term, take-or-pay/fixed fee agreement. UNG will provide the feedstock natural gas and utilities and will take on all products.
Seifi Ghasemi, Air Products' Chairman, President, and CEO, commented on the agreement stating, "Air Products is proud to be deploying our knowledge, experience and technology to help nations around the world access and maximize their abundant energy sources more sustainably." He noted the supportive environment in Uzbekistan and highlighted the company's aim to use their operational and supply competencies to assist UNG in producing cost-effective, high-purity fuels.
Sidikov Bakhodirjon Bakhromovich, the Chairman of the Board of Uzbekneftegaz JSC, shared his positive outlook for the partnership. He emphasized the combination of Uzbekneftegaz's expertise in processing natural gas into high-value products and Air Products' track record in mega-project execution. "We are optimistic about the benefits this cooperation will bring both to the company and our Republic as a whole," he added.