The chemicals and refining sectors are facing increasing pressure to adapt, driven by changes in global demand, evolving regulations, and a shift toward more complex and integrated complexes, allowing a complete conversion of the raw feedstocks into products with high added value.
Source: Globuc
The governments and businesses of Central Asia and the Caspian region clearly recognise this. We see world-scale projects that rely on country-wide pipeline networks and government-owned companies, which look not just to sell raw materials but to monetise them by converting them into valuable products.
In our view, these are all essential attributes of projects that help diversify economies, support and develop local communities, and attract international capital.
However, these projects present unique technical, geopolitical, and commercial challenges. That's where lenders' advisory and project finance support come in — helping assess technical and economic viability while aligning with the expectations of banks and investment companies.
We see a lot of great projects and project teams developing unique solutions to address the modern challenges and meet the goals put in front of them by the businesses, social communities and governments; however, some of the key risks paramount for the lenders remain unmitigated even at the time of engaging the lending community. We, as a trusted Lenders Advisor, are always happy to support and help our clients on this journey towards successful project execution.
Oleg Sabitov, Group Manager – Fuels and Petrochemicals Integration, Worley Consulting
By bringing together financial, technical, engineering, environmental, social, regulatory and policy expertise, Worley Consulting helps reduce risk and support confident financial decision-making. In Central Asia and the Caspian region, they've been actively supporting complex downstream projects for over a decade.
Supporting "first of a kind" projects reaching Financial Close
Worley Consulting has been chosen to continue delivering Lender's Technical Advisor (LTA) services for bp related to the Northern Endurance Partnership (NEP) and Net Zero Teesside Power (NZT Power), which reached financial close in December 2024.
NEP is the CO2 transportation and storage provider to carbon capture projects, while NZT Power aims to become the world's first gas-fired power station with carbon capture and storage.
This builds on Worley Consulting's existing involvement in supporting both projects over a 30-month period, where we carried out detailed technical due diligence on behalf of the lending banks and worked closely with project shareholders to gather and analyse project data. This work provided critical inputs to shareholders and the lenders, helping to inform investment decisions and secure government funding needed to move the projects forward.
Throughout this multi-year engagement, their subject matter experts will conduct regular site visits and stakeholder meetings to oversee and monitor the construction progress until commercial operation phase.
Unlocking investment in the Middle East
Worley Consulting supported a Middle Eastern customer in raising capital for a multi-billion-dollar petrochemical facility, aligning with a commitment to net zero by 2050. The consulting team conducted a comparative techno-economic benchmark analysis, evaluating multiple e-fuel production pathways — including eight distinct e-fuel processes based on selected hydrogen electrolyser and biofuel scenarios focused on Sustainable Aviation Fuel (SAF) production. This thorough assessment facilitated stakeholder alignment and informed a final investment decision at the end of 2022, with commercial operations scheduled for 2027.
Unlocking investment in Central Asia
Worley Consulting has played a pivotal role in advancing a natural gas to olefins project in Central Asia — an initiative crucial for promoting industrial diversification and strengthening the downstream value chain within the region. To support the customer's internal stage gate approval, the team delivered a comprehensive feasibility study encompassing technology screening and evaluation, Class IV capital cost estimation, and a robust techno-economic analysis.
Partnering for success
Through these examples, Worley Consulting demonstrates a sustained commitment to supporting customers in the successful delivery of complex, capital-intensive projects across multiple regions. By leveraging deep technical expertise and industry-leading best practices, their teams provide thorough, comprehensive optioneering studies, robust feasibility analysis, and new project due diligence — empowering stakeholders with the insights required to make informed, data-driven investment decisions.
Our approach, rooted in regular stakeholder engagement and rigorous project evaluation, ensures that customers are equipped to navigate market complexities, mitigate risks, and unlock value throughout the project lifecycle.
Inna Ivkova, Business Development Director, Worley Consulting
This dedication to excellence underpins Worley Consulting's role as a trusted advisor and partner, supporting customers from initial concept through to financial close and operational execution.
We're proud to be joining the Downstream Central Asia & Caspian Summit as a Technology Advisory Partner. Our presence across Central Asia and the Caspian, supported by global best practices, allows us to help attendees unlock and maximise the value of their assets.
Inna Ivkova, Business Development Director, Worley Consulting
Meet the Worley Consulting team at the Summit and learn more in the meantime here: www.worley.com/consulting
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