OREANDA-NEWS. July 25, 2012. The project was named at a formal ceremony in Tashkent involving representatives from the three companies who make up the joint venture: Uzbekneftegaz, Sasol and PETRONAS.

In English, Oltin Yo’l translates as ‘golden road’ and is a reference to the centuries-old trade routes which passed through Uzbekistan and specifically through Samarkand, the country’s second city.

The naming of the joint venture project followed a ceremony to mark the start of infrastructure development by the Government of Uzbekistan at the proposed GTL plant site at Shurtan in the south of Uzbekistan, aimed at supporting the project schedule to enable a final investment decision (FID), which is expected during the second half of 2013.

When commissioned, OLTIN YO’L GTL, a 38,000 bpd plant, will produce a combination of GTL diesel and GTL naphtha and, in an important development in the application of GTL fuels, GTL kerosene for the aviation sector.

Mr David Constable, CEO of Sasol said:

“Sasol is proud to be part of this strategic project, which will provide Uzbekistan with world class environmentally friendly fuel, contribute to the country’s energy security, and diversify the utilisation of its domestic gas resources.

This project will significantly contribute to the economic growth of Uzbekistan by bringing billions of dollars of foreign direct investment into the country, thereby creating hundreds of skilled jobs, and additional indirect employment opportunities for the country’s population.”