Uzbekneftegaz's international trade and investment wing, UNG Overseas and the American Cargill signed a strategic cooperation agreement, Uzbekneftegaz's press service said.
According to the deal, the parties agreed to draw long-term financing of up to $3 billion, with the total limit potentially could be increased to $5 billion.
Uzbekneftegaz added that the goal of the agreement was to enhance Uzbekistan's energy security, increase the sustainability of resources, and support the country's sustainable development.
Reportedly, energy, water management, and the environmental protection projects implemented as part of the deal are aimed at improving the reliability and efficiency of key systems against the backdrop of rising energy consumption, climate challenges, and industrial modernization.
The projects will focus on the following:
- energy supply to households and businesses;
- reducing systemic risks and modernizing infrastructure;
- improving the efficiency of energy and water resource management;
- environmental balance;
- Increasing industrial competitiveness and strengthening energy independence.
UNG Overseas will coordinate strategic interactions with international partners, while Cargill will offer solutions based on its global expertise in structured finance.
The company emphasized that the signed agreement was an important step toward ensuring Uzbekistan's long-term energy sustainability and opens new opportunities for attracting international investment in priority economic sectors.
In October, Uzbekneftegaz announced the establishment of a subsidiary in the UAE, Orient Energy Limited, operating under the UNG Overseas brand. The new office is responsible for raising funds from international financial institutions and investors for major projects in the energy sector, as well as related industrial and infrastructure sectors.
UNG Overseas was founded as an international investment and trading center as part of Uzbekneftegaz's strategy to expand its presence in the global market and increase the influx of foreign investment.
