Air Products to acquire Uzbek gas processing plant for $1bn

New York-listed Air Products has signed an investment agreement with the government of Uzbekistan and Uzbekneftegaz to acquire and operate a natural gas-to-syngas processing facility in Qashqadaryo Province for $1bn, it said on May 25.

The facility is part of Uzbekneftegaz's gas-to-liquid (GTL) complex, which produces synthetic fuels. The GTL complex has the capacity to produce 1.5mn metric tons/year of synthetic fuels for domestic use and potential export.

Under the agreement, Air Products will own and operate two air separation units, two auto-thermal reforming units, and a hydrogen production unit within the GTL complex. The company will supply oxygen, nitrogen, hydrogen, and syngas to Uzbekneftegaz under a long-term contract. Uzbekneftegaz will provide the natural gas feedstock and utilities and will off-take all the products.