AIR PRODUCTS PLAN TO INVEST $1B IN UZBEK OIL AND GAS INDUSTRY
American company Air Products is ready to invest $1 billion in the oil and gas industry of Uzbekistan. This was stated by president of the company Seifi Ghasemi in an interview with Uzbekneftegaz.
“Our operating model does not imply the supply of equipment. That is, one came, sold and left. We are aimed at investing in a certain country for the long term. In this regard, Uzbekistan is a promising country,” he said.
Air Products possesses serious technologies that can be very useful for the development of the oil and gas industry in Uzbekistan, as well as in the development of the metallurgical industry, according to the company’s president.
Air Products is interested in organizing production, use and distribution of industrial gases in Uzbekistan (including oxygen, nitrogen, argon, hydrogen, synthesis gas and others), he noted. The first meeting of the working group was already held, following which an agreement was reached to study the market and conduct an audit of industrial gas production with the subsequent development of proposals, according to Ghasemi.
“We said the company is ready to invest in Uzbekistan a billion or more U.S. dollars for the development of these industries and the creation of an industrial gas production company that will be based in your country and provide services to neighboring countries,” he added.
The project “methanol to olefins” (MTO) is one of the largest, which is being worked upon at this time. The company is already taking part in the construction of the GTL plant in the Kashkadarya region.
Air Products is an international oil and gas company, which is present in 50 countries. The staff consists of about 15,000 people. The market capitalization of the company to date is $ 35 billion. The main area of activity of the company is the provision of services in the chemical, metallurgical and food industries.
Key downstream projects in Uzbekistan will be discussed at the Downstream Caspian and Central Asia conference.