Korea Gas (KOGAS) consortium is signing a massive $1.8 Billion investment on gas deal to develop gas field and downstream of a cracker complex via a joint venture of 50:50 with Uzbekistan’s Uzbekneftegaz. Uzbekneftegaz is the state-oil company of Uzbekistan and the plan is to process the natural gas from Uzbekistan's Ust-Yurt region. Construction is expected to complete between 2008 and 2010.
The downstream chemical cracker complex will use the Ust-Yurt gas as feedstock for production of ethylene, 360,000 tonnes/year of high density polyethylene (HDPE) and 80,000 tonnes/year of polypropylene (PP), the official added.
The downstream chemical cracker complex will use the Ust-Yurt gas as feedstock for production of ethylene, 360,000 tonnes/year of high density polyethylene (HDPE) and 80,000 tonnes/year of polypropylene (PP), the official added.
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