Air Products, Uzbekneftegaz organize a joint venture for production of rare gases

By the end of March, an American Air Products and the JSC Uzbekneftegaz will sign an agreement on establishment of a joint venture for production and distribution of technical and rare gases, the press service of the Uzbek holding said on Friday.

According to the report, on Friday, the chairman of the board of Uzbekneftegaz Bakhodir Sidikov met in Tashkent with the executive vice-president of Air Products Samir Serhan. The parties discussed results of the joint marketing research of technical and rare gases in Uzbekistan and in foreign markets.

“The sides expressed satisfaction with the work done and agreed to prepare for signing in March this year an agreement on the establishment of a joint venture for production and distribution of technical and rare gases,” the report said.

In May, within the framework of an international exhibition Oil & Gas Uzbekistan 2019 in Tashkent, Air Products and Uzbekneftegaz are also planning to define the concept for implementation of the petrochemical cluster, the press service added.

In October 2018, Air Products and Uzbekneftegaz signed an agreement on implementation of promising projects in the field of deep gas processing worth $2 billion. According to the holding, in the medium term, the country plans to build a new gas chemical cluster with a preliminary cost of $4,25 billion based on a public-private partnership.