Uzbekistan and Korea launch Ustyurt Gas Chemical Complex

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TASHKENT (TCA) — A ceremony to celebrate the completion of construction and commencement of operations of the Ustyurt Gas Chemical Complex (UGCC) at the Surgil field in Uzbekistan was held on May 21. The event was attended by Prime Minister of Uzbekistan Shavkat Mirziyoyev and Prime Minister of the Republic of Korea Hwan Kyo-ahn, the Jahon information agency reported.

The $4 billion project was implemented in cooperation with a consortium of leading South Korean companies — Korea Gas Corporation, Lotte Chemical, Samsung Engineering, Hyundai Engineering, and GS.

The project can annually process 4.5 billion cubic meters of natural gas and produce 3.7 billion cubic meters of marketable gas, 387 thousand tons of polyethylene, 83 thousand tons of polypropylene, 102,000 tons of pyrolysis distillate, and other products.

Prime Minister of the Republic of Korea Hwang Kyo-ahn underlined that Uzbekistan is the main strategic partner of South Korea in Central Asia. The Republic of Korea attaches high priority to developing mutually beneficial cooperation with Uzbekistan in trade, economic and investment spheres and the successful commissioning of the Ustyurt Gas Chemical Complex will serve to further develop fruitful cooperation in the oil and gas sector, as well as chemical industry.

“Under the leadership of President Islam Karimov, Uzbekistan has become a leading country in Central Asia,” said Hwang Kyo-ahn.

South Korea is one of the major trading partners of Uzbekistan. At the end of 2015 the trade turnover exceeded $1.7 billion. Uzbekistan is also a major trading partner of South Korea among the countries of Central Asia — more than half of Korea’s trade with the countries of the region is accounted for Uzbekistan.

Sergey Kwan

TCA