SSL | Quote | Chart | News | PowerRating -- Uzbekistan's state energy
company has signed a US$2.5 billion deal to create a joint
venture with Malaysia's Petronas and South Africa's Sasol to
build a synthetic liquid fuel production plant, the state
company announced on 6 November.
Uzbekneftegaz said the three companies will take equal
stakes in the venture, which will be based in the Central Asian
nation. In an industrial process developed by Sasol, the
facility will convert natural gas into liquid fuel.
Uzbekistan has large gas reserves, but sells most of it
within the country at low prices. Diversifying its output of
energy commodities will help it boost revenue from exports.
The plant is expected to produce around 1.3 million tons of
clean-burning diesel fuel annually once completed, Forbes
reported.
The agreement comes amid a drive by Uzbekneftegaz to attract
foreign investors to help boost technical expertise and develop
new energy technologies.
(UzReport) rw
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