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Putin says Lukoil to invest about US$5.5 bn into Uzbekistan

5 June 2012

http://uzdaily.com of 6/5/2012 - President of Russia Vladimir Putin at the end of his official visit to Uzbekistan stated that the Russian oil company Lukoil plans to invest about US$5.5 billion into economy of Uzbekistan in next seven years.

Vladimir Putin said that some of Russian companies are actively operating in Uzbekistan and they have huge investment plans. He said that Lukoil plans to invest US$5.5 billion in next seven years.

Russian President said that Russia and Uzbekistan will not compete on gas supplies to China.

"We do not have competition in gas sector with Uzbekistan," he said. Putin added that Russian companies, including Gazprom and Lukoil, are planning to produce large volume of gas and questions can be raised on gas sales. He added: "We will negotiate to which markets, we will supply gas."