Sasol, together with partners Uzbekneftegaz and Petronas, signed an investment agreement with the Minister of Foreign Economic Relations, Investment and Trade for the Uzbekistan government, for the development and implementation of a Gas-to-liquids (GTL) project. Under the investment agreement, the investors and the GTL project will enjoy investment protection and fiscal benefits, to ensure the successful implementation and operation of the GTL facility. The conclusion of the investment agreement is an important milestone in the development of the GTL project in which Sasol and Uzbekneftegaz each hold 44.5% interest and Petronas an 11% interest. The GTL project will reduce Uzbekistan’s dependence on the importation of crude oil and transportation fuels and will diversify the utilisation of its domestic gas resources. The next phase will be the front end engineering and design of the GTL project which will commence before the end of the year 2011 and depending on the final investment decision, the plant will be operational in the second half of this decade.