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Hyundai Engineering begins construction of gas processing facility in Uzbekistan

Collected: 2016.04.22

Distributed: 2016.04.26

Source: Go Direct

South Korea’s construction company Hyundai Engineering Co. announced on Wednesday that it has held a groundbreaking ceremony for Kandym gas processing facilities valued at $2.66 billion in Uzbekistan. The construction company has $2.01 billion interest in the project, which is the country’s largest gas processing construction project.

The facility is being constructed in the Kandym gas field, about 520 kilometers southwest of Tashkent, the capital city of Uzbekistan. After the completion of the construction, the facility would process natural gas of about 8.2 billion cubic meters, or approximately 6.35 million tons, per year. The figure is equivalent to 16 percent of annual gas consumption in Korea. The order was placed by LUOC, a joint venture of Russia-based global oil company Lukoil and UNG, Uzbekistan’s state-run oil and gas company.

The Korean builder is expected to complete the construction in the first half of 2019 on an engineering, procurement and construction basis.

The Korean company received the order of front end engineering design (FEED) for the development of the Kandym gas field in 2011 and signed a binding contract in February last year after it was selected as a main operator of the gas processing facility. The project is regarded as the achievement of economic diplomacy of the Korean government. President Park Geun-hye requested to push ahead with the project during her visit to the central Asian country in June 2014, which expedited the process to complete the government approval and contract in eight months.

By Lee Han-na

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