Malaysian company Petronas to implement two gas processing projects in Uzbekistan

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Uzbekistan plans to implement two major gas processing projects jointly with Petroliam Nasional Bhd (Petronas) from Malaysia. Minister of Investments, Industry, and Trade of Uzbekistan, Laziz Kudratov, shared this information in an interview with the television channel "Uzbekistan 24," reports.

"We have agreed with the largest company Petronas in the oil and chemical industry to implement two major projects. The first one is based on the MTO (methanol to olefins and its derivatives) technology for deep processing of our gas and polymer production from gas. The second one is the production of 'green' ammonia from gas. There is growing demand for 'green' fertilizers in the USA and European countries, so this is a very important project for our economy in terms of exports," he said.

The Prime Minister of Malaysia, Anwar Ibrahim, visited the country on an official invitation from the President of Uzbekistan, Shavkat Mirziyoyev, from May 17 to 19. This was the first visit of the Malaysian leader to Uzbekistan in the last 16 years.

In a joint statement, the heads of states welcomed Petronas' potential participation in training personnel in the oil and gas sector.

In mid-2013, the Malaysian company informed Uzbekistan of its decision to withdraw from the production sharing agreement (PSA) for the exploration and development of the Baisun Investment Block deposits in the Surkhandarya region (now the project is being implemented by Surhan Gas Chemical Operating Company) and the PSA for the development of the Urga, Kuanysh, and Akchalak groups of deposits in the Ustyurt region. In 2014, the company closed its representative office in Uzbekistan.

In 2009, the company participated in the construction project of a synthetic fuel plant (Uzbekistan GTL), but in June 2011, it reduced its stake in the joint venture from 33.3% to 11%, and then, together with other investors, withdrew from the project due to economic impracticality.

May 20, 2024