The press service of the company said that management of Uzbekneftegaz met with the executive director of Sasol Synfuels International Ed Cameron and head of Sasol Office in Uzbekistan Martin Waterhouse.

The sides exchanged opinion on current status of the project on construction of the plant on synthetic liquid on GTL technology in Kashkadarya region of Uzbekistan.

It was noted that Uzbekneftegaz, Petronas (Malaysia) and Sasol carried out huge work on project promotion and preparation of necessary documents. The sides decided to raise designed capacity of the plant to 1.468 million tonnes a year (diesel fuel, aviation kerosene, naphtha, liquefied gas).

In near future, the sides will face some important stages and the sides need to find effective ways to their implementation to speed up process.

As earlier reported, the feasibility study for the Uzbekistan GTL plant is expected to be completed by the end of the second quarter of the 2011 financial year. Financial year of Sasol starts on 1 July and ends on 30 June.

France’s Technip is preparing feasibility study of the project on construction of the plant on production of synthetic fuel. Technip signed a contract on developing feasibility study with Uzbekistan GTL JV, which is operator of the plant, in March 2010.

Uzbekneftegaz national holding company, Petronas International Corporation LTD and Sasol Synfuels International (PTY) Limited signed charter and constituent agreement of joint venture Uzbekistan GTL in November 2009. The preliminary cost of the project makes up US$2.5 billion.

The venture was created in parity terms (33.3%) with preliminary charter capital of US$30 million. Later, the size of the authorized capital will reach US$840 million.

In line with preliminary feasibility study, the plant will process 3.5 billion cubic meters of gas and produce 672,000 tonnes of diesel fuel, 278,000 tonnes of aviation kerosene, 361,000 tonnes of naphtha and 63,000 tonnes of liquefied gas. The project will be started from 2014.

The project will be financed due to own resources of the venture’s founders, consortium of banks and financial institutions, which issue loans on project financing terms.