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NEWS

Uzbekistan to direct US$2.515bn to oil and gas industry

15 January 2013

http://uzdaily.com of 1/15/2013 - Uzbekneftegaz (Uzbek Oil and Gas Industry) national holding company will direct US$2.515 billion to development and modernization of the industry in 2013, which will grow by 5.4% year-on-year.

At the same time, the size of direct foreign investments will make up US$1.724 billion. Fund for Reconstruction and Development of Uzbekistan will allocate US$333.5 million to Uzbekneftegaz. Loans of foreign and local commercial banks will make up US$64.1 million.

In particular, Asia Trans Gas, an Uzbek-Chinese joint venture, will continue to construct third line of Uzbek part of "Central Asia-China" gas pipeline. The project cost is US$2.2 billion. In 2013, some US$260 million will be used within the project.

Russia's Lukoil will start to implement several projects in Uzbekistan, investing US$678.5 million to realize two product-sharing agreement worth US$4.3 billion.

In 2013, Uz-Kor Gas Chemical will invest US$600 million to construction of Ustyurt Gas Chemical Complex in Uzbekistan.

Malaysia's Petronas will invest almost US$170 million into its projects in Uzbekistan. Some US$138.75 million will be directed to project on organization of production of synthetic liquid fuel based on cleaned methane of Shortan Gas Chemical Complex.