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South Korea's Hyundai Engineering to build $3.2 bil GTL plant in Uzbekistan

27 December 2013

South Korea's Hyundai Engineering & Construction said Friday it has won a $3.2 billion deal to build a gas-to-liquid plant in Uzbekistan that can produces about 38,000 b/d of liquefied gas.
Under the contract, the company will build the plant by August 2017. The order was placed by Uzbek consortium Oltin Yol GTL, Hyundai said. It refused to disclose further details citing a request from the Uzbek consortium.
Oltin Yol GTL is a joint venture formed in 2011 by Uzbekneftegaz with a 44.5% share, Sasol with 44.5%, and Malaysia's Petronas with 11%.
The GTL plant will be adjacent to the existing Shurtan Gas Chemical complex in the Kashkadarya region in southern Uzbekistan. The project is estimated to cost $4.5 billion. 

The project's primary aim is to allow Uzbekistan to use domestic gas resources to help meet transportation fuel demand, an official from the JV told Platts in May.
The plant is expected to produce 38,000 b/d of products, including diesel, kerosene, naphtha and LPG. The bulk of the production will be GTL diesel and GTL kerosene, according to the JV's website.
The facility will use about 350 million cubic feet/day of methane-rich gas.
Uzbekistan is rich in natural gas with reserves estimated at 1.84 trillion cubic meters (or 65 Tcf) as of January 2012, according to the website. The country currently produces around 60 Bcm/year of natural gas, the JV said.
Earlier this month, Hyundai Engineering clinched a $1.4 billion deal from Venezuela's state-owned oil company PDVSA to build part of a $2.3 billion Batalla de Santa Ines refinery with a capacity of 40,000 b/d.