According to the source, it is planned to commission GTL plant in Kashkadarya regions in 2017. He added that date correction is connected with revision of technological processes of production.

He said that the project is currently at basic project (Feed-2) development stage now and it is planned to start active technological phase in the second half of 2012. Earlier, it was planned to start technological part of the plant in the end of 2011.

As reported earlier, Uzbekneftegaz national holding company, Petronas 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 June 2011, Petronas adopted to cut its share in Uzbekistan GTL JV from 33.3% to 11%. Participants are planning to decide JV share distribution by the end of 2011.

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.

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. However, Uzbekneftegaz said that designed capacity of the plant will be increased up to 1.468 million tonnes a year

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.