Thursday, 24, June, 2021

During the visit of a delegation of the Uzbek Ministry of Energy between December 13-15 to Moscow, a number of energy projects accords were signed with the Russian companies, the Ministry of Energy said.

Uzbekneftegaz, VEB.RF and Gazprombank signed a US$ 100 million agreement to finance the second stage of the gas production increase program in Uzbekistan in 2017-2021.

Earlier it was reported that Uzbekneftegaz and VEB.RF signed a memorandum on a US$ 650 million credit line for the same purposes, as well as on the attraction of a credit line of US$ 40 million.

Uzbekneftegaz, Sibur Holding and Gazpromneft signed agreements on the joint implementation of two projects - the creation of a MTO (methanol into olefins) gas chemical complex and expansion of the production capacity of Shurtan gas chemical complex.

In the medium term, Uzbekistan has plans to build a new gas chemical cluster with a provisional cost of US$ 4.25 billion under the public-private partnership terms. The cluster will include a MTO technology gas chemical complex, and about 10 polymer processing plants with the production of up to 300 thousand tons of finished products. The complex will process up to 1.5 BCM gas and produce 200-250 thousand tons of polypropylene, 100 thousand tons of ethylene-propylene rubber, 100 thousand tons of polyethylene terephthalate and ethylene vinyl acetate, 100-150 thousand tons of ethylene glycol and polyethylene.

The Uzbek Ministry of Energy and IKS Holding signed a contract on the development of an energy industry digitalization concept of the. The implementation of this task will reportedly streamline the development of technologies in a single vector for all subsidiaries, which in turn will significantly reduce the cost and effectiveness of the implementation of ICT projects.

An US$ 100 million deal was signed between the Jizzakh Petroleum and VEB.RF to finance the export of Russian equipment and services to implement a program to increase oil production in 2020-2030.

Uztransgaz and VEB.RF signed an agreement on cooperation in project financing for modernizing the gas transmission system, as well as updating and completing emergency and special equipment for Uztransgaz divisions.

The implementation of these projects will improve the safety conditions for operation of gas transportation infrastructure, increase the reliability of supplying the households with natural gas, and also reduce the volume of natural gas losses during the elimination of accidents, the Ministry of Energy underscored.

In addition, Uztransgaz signed a memorandum of understanding with the Russian Export Center in order to attract soft loans to finance promising projects to modernize the gas transmission network of Uzbekistan.

An agreement was signed between the oil and gas company Eriell, the Russian export insurance agency EXIAR and the Russian metallurgical group ChTPZ (Chelyabinsk Tube Rolling Plant) on the supply of pipe products for Uzbekistan projects up to US$ 75 million.

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