WASHINGTON (dpa-AFX) - Industrial gases company Air Products And Chemicals Inc. (APD) announced Thursday a deal to acquire, own and operate a natural gas-to-syngas processing facility in Qashqadaryo Province, Uzbekistan for $1 billion.
The company has signed an investment agreement with the Government of the Republic of Uzbekistan and state-owned energy company Uzbekneftegaz JSC or UNG for the industrial gas complex at Uzbekneftegaz's advanced gas-to-liquids facility.
The natural gas-to-syngas industrial complex is an integral part of Uzbekneftegaz's multi-billion gas-to-liquid facility. It produces 1.5 million tonnes per year of high value-add synthetic fuels for domestic use and potentially export.
Under the deal, Air Products will acquire, own and operate two large-scale air separation units, two large-scale auto-thermal reforming units, and a hydrogen production unit within the Uzbekistan GTL complex. It will supply oxygen, nitrogen, hydrogen and syngas under a long-term, take-or-pay/fixed fee contract to UNG.
UNG will supply the feedstock natural gas and utilities and offtake all products.
Air Products' Chairman, President and CEO SeifiGhasemi said, 'With this strategic acquisition in Uzbekistan, a high-growth environment underpinned by strong government support, we will bring our best-in-class operational and supply competencies to bear. This will enable UNG to seamlessly produce low-cost, high-purity fuels that enable the Republic to meet its growing energy production and societal needs.'
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