The proposed development of a $4.5-billion Uzbekistan gas-to-liquids (GTL) project took a step closer on Monday when the project was officially rebranded as ‘Oltin Yo’l (or ‘golden road’) at a ceremony in Tashkent.
The three project partners, Uzbekneftegaz, Sasol and Petronas, expect to make a final investment decision during the second half of 2013 and are seeking nonrecourse project finance to fund the venture.
Sasol and Uzbekneftegaz each have a 44.5% share in the project, with Petronas having retained the 11% balance.
The name, which bears a reference to a centuries-old trade route that passed through Uzbekistan, was unveiled as infrastructure work began at the proposed Shurtan site, located in the south of Uzbekistan.
Envisaged is a 38 000 bl/d facility to produce a combination of GTL diesel and naphtha, as well as kerosene for the aviation sector.