Air Products to acquire $1bn industrial gas complex in Uzbekistan

Dec 12, 2023

Air Products has signed a $1bn investment agreement with the Government of the Republic of Uzbekistan and Uzbekneftegaz JSC (UNG) to acquire, own, and operate a natural gas-to-syngas processing facility in Qashqadaryo Province, Uzbekistan.

Under terms of the deal, Air Products will be responsible for two large-scale air separation units, two large-scale auto-thermal reforming units, and a hydrogen production unit within the Uzbekistan GTL complex.

The industrial gas giant will also take on a long-term take-or-pay/fixed fee contract with UNG for the supply of oxygen, nitrogen, hydrogen, and syngas. UNG will supply the feedstock natural gas and utilities and offtake all products.

Seifi Ghasemi, Chairman, President and CEO of Air Products, said he is excited to build on the long-term, sustainable partnership and future opportunities in Uzbekistan and the Central Asia region.

The natural gas-to-syngas industrial complex is an integral part of state-owned energy company Uzbekneftegaz JSC's multi-billion gas-to-liquid facility, producing 1.5 million tonnes per year of high value synthetic fuels for domestic use and potentially export.

Sidikov Bakhodirjon Bakhromovich, Chairman of the Board for Uzbekneftegaz JSC, added, "Cooperation between the Uzbekistan GTL plant and Air Products is of great importance as it represents a partnership that promises to unleash the enormous potential of the energy sector of the Republic of Uzbekistan."

Air Products began operations in Central Asia in 2019 and opened office in Tashkent, the capital city of Uzbekistan. That same year, Air Products was registered a joint venture Mosan Gaz to meet the growing demand for industrial gases in the Republic of Uzbekistan.