Why is this important
This agreement demonstrates the intention to attract strategic investments from the US, accelerate infrastructure renewal, and implement “green” technologies — a key step towards energy diversification and export potential growth.
What happened
- As part of the deal, it is planned to replace equipment in the gas system, including electric motors at compressor stations; the financing is interested in providing the US Eximbank.
- Agreements have been signed with Schlumberger and Baker Hughes on modernizing drilling methods and applying advanced technologies.
- A memorandum has been signed with Uzbekneftegaz and Gulf for the construction of a gas station network ($100 million).
- Air Products expressed interest in projects to gasify coal, synthesize gas, and produce industrial raw materials.
Context
Uzbekistan is actively expanding cooperation with international partners in the energy sector, including “green” initiatives and projects with foreign funding.
Gold exports and foreign currency earnings help to compensate for weaknesses in other export areas. One of the projects’ objectives will be to reduce gas transportation costs and strengthen energy independence.
