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ADB: Projected cost of Uzbek Oltin Yo’l GTL plant increases by 37% to $5.6B

The projected cost of the Olin Yo’l GTL project in Uzbekistan (earlier post) will hit $5.6 billion, according to a project update by Asian Development Bank (ADB), which is supporting the project with a $125-million loan. As originally outlined by founding project partners Sasol, Petronas and Uzbekneftegaz, the project was estimated to cost some $4.1 billion.

The scope of the project includes a three-stage GTL process unit, utilities and offsites, and connecting pipeline and rail. The project will produce 37,610 barrels per day (bbl/d) of GTL diesel, GTL kerosene, GTL naphtha and LPG using natural gas supplied by Uzbekneftegaz from the Shurtan fields. The majority of production will be GTL diesel and GTL kerosene. The kerosene and diesel will be off-taken by Uzbekneftegaz under a long term off-take agreement at international linked prices; fuel products will be sold mainly to the domestic market, while naphtha will be exported to downstream refiners.

Oltin2
Click to enlarge.

The technology used is similar to that of the pioneering ORYX GTL plant in Qatar.

At the core of Sasol’s GTL technology is the Sasol Slurry Phase Distillate Process (SPD process). This is a three stage process which combines three leading proprietary technologies. In the first stage, natural gas is combined with oxygen to form a syngas. Syngas is then subjected to a Fischer-Tropsch conversion to produce waxy syncrude. In the final stage, syncrude is cracked down to produce final products.

Oltin yol
Click to enlarge.

The plant construction will begin in autumn 2014 and will be completed in the first quarter of 2018 (compared to the previously planned date of construction completion in August 2017).

Uzbekistan started forming a banking consortium to finance the plant construction in September 2013.

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