09 – 10 April 2019   |   Moscow, Russia

Uzbekistan wants Gazprombank to credit Shurtan GCC

Posted by GBC on 28.02.19

Source : RUPEC

President of Uzbekistan Shavkat Mirziyoyev announced plans to attract a loan at Gazprombank to expand the production capacity of the Shurtan Gas Chemical Complex, according to the president’s website.

Ministry of Energy and Finance of Uzbekistan has been appointed responsible for raising credit funds.

“The ministries were instructed to determine the conditions for financing foreign loans of $2.3 billion for a project called “Organization of the production of synthetic liquid fuel (GTL) based on purified methane of the Shurtan Gas and Chemical Complex”. It is also planned to attract a $300 million loan from Gazprombank (Russia) for the project “Expansion of production capacity Shurtan gas chemical complex “, – the report indicates.

Gazprombank commented that they are interested in the further development of mutually beneficial relations with Uzbekistan and are considering the possibility of providing such a loan within the cooperation with the state company Uzbekneftegaz.

At the end of last year Enter Engineering Pte Ltd, a subsidiary of Gazprombank, and Uzbekneftegaz signed an EPC contract to expand the capacity of the Shurtan Gas Chemical Complex. The project involves the processing of synthetic naphtha from the GTL plant under construction and the development of new types of polyethylene and polypropylene.

By 2021, it is planned to commission additional capacity for the production of 280 thousand tons of polyethylene and 100 thousand tons of polypropylene. The project will use technology licensed BY CB&I Lummus and Chevron.

Shurtan Gas Chemical Complex was commissioned in 2001. The complex is capable of processing up to 4 billion cubic meters of raw gas per year and producing up to 3.5 billion cubic meters of methane, more than 125 thousand tons of polyethylene granules, 100 thousand tons of liquefied gas, 100 thousand tons of gas condensate, about 1.5 thousand annually. tons of granulated sulphur and over 2.5 thousand tons of finished pipes and fittings. The products of the complex are exported to Uzbekistan, Russia, Kazakhstan, Ukraine, Turkey, China, Poland, Italy and a number of other countries.