An investment deal worth $1 billion was signed on May 25 between the Ministry of Investments, Industry and Trade of Uzbekistan, Uzbekneftegaz and the US-based Air Products to build an industrial gas processing complex in Kashkadarya region, according to the MIIT press service.

The complex is part of Uzbekistan GTL, a $3.42 billion plant for the production of synthetic liquid fuels in the Kashkadarya region, which will open in the Guzar district in 2021.

The agreement stipulates the purchase and operation of a natural gas processing plant in Kashkadarya region by Air Products with an investment of $1 billion, the Energy Ministry said.

“Thanks to the signed agreement we will have the opportunity to apply the most advanced technologies and knowledge in Uzbekistan. The agreement will ensure production of high-quality and low-cost fuel and meet the growing needs of the population. We look forward to developing this long-term and strong partnership and welcome new opportunities for cooperation with Uzbekistan,” said Seifi Ghasemi, chairman, president and CEO of Air Products.

Also during the ceremony the benefits of Air Products' expertise in advanced natural gas processing at GTL plant in Uzbekistan were underlined, such as increased efficiency, lower costs of production and reduction of hazardous emissions.

Air Products is one of the world’s leading producers of industrial gases and has been in business for more than 80 years. Its core business is the manufacture of atmospheric and process gases and related equipment for various industries, including petroleum refining and petrochemicals.

In addition, Air Products is a world leader in the supply of technology and equipment for the production of liquefied natural gas and also supplies turbomachinery, membrane systems and cryogenic containers worldwide.