New milestones achieved in Jizzakh Petroleum’s methanol-to-olefins project

Tashkent, February 9 - Neftegaz.RU. Jizzakh Petroleum, an oil & gas company focused on developing Uzbekistan’s energy sector, has announced significant progress in the construction of a new gas chemical complex in Uzbekistan, based on methanol-to-olefins (MTO) technology.

Jizzakh Petroleum is a major investor in the project located in the Bukhara region of Uzbekistan, which will use domestic feedstock to enable monetisation of gas, via the production of export-oriented and high value-added products in demand within the country.

Uzbek Minister of Energy Alisher Sultanov on 9 February 2021 said:

• The Government of Uzbekistan welcomes the progress that has been achieved in relation to this Bukhara complex
• Having completed site selection just last year, we are delighted that discussions with Jizzakh Petroleum have so quickly led to this series of agreements with major international licensors

The creation of the future Gas Chemical Complex will lead to the development of the domestic textile industry, as well as import substitution and an increase of production in the automotive and construction industries.

Based on in-depth studies and assessments conducted with partner, Wood, 6 technology licence agreements have been signed in January – early February 2021 with leading international companies.

These milestones follow the September 2020 announcement on site selection and the completion of marketing and feasibility studies by consulting and technical partners - IHS Markit, Nexant, and Wood.

Other milestones include:

• Jizzakh Petroleum has engaged White & Case as the project’s legal advisor and Mott MacDonald as Environmental and Social Impact Assessment consultant;
• An agreement has been signed with Woodon FEED
• Formal letters of intent have been received from SACE (ECA of Italy) and Bank Intesa Sanpaolo (Italy) for financing FEED