Uzbekistan and Russia are implementing US$ 22 billion worth of energy projects, the Uzbek Energy Ministry said. This figure was announced during the talks of the Energy Minister Alisher Sultanov with his Russian counterpart Nikolai Shulginov held yesterday as part of the working trip to Moscow.
The Uzbekistan Minister of Energy reportedly underscored the upward trend in the ties with Russian financial institutions in terms of attracting funds for energy projects. Another important new area of cooperation is the digitalization of production and financial processes of Uzbek energy companies.
In turn, Shulginov noted the importance of bilateral cooperation in the oil and gas sector, as one of the key areas of partnership in the energy sector.
At the same time, he stressed that "Russian energy companies do not limit their cooperation with the framework of existing projects and are ready to expand cooperation with Uzbekistan in all areas of the fuel and energy complex.
While, currently 5 projects are being implemented with the financial support of Russian Vnesheconombank in the hydropower industry of Uzbekistan. These include the construction of new mini hydroelectric power plants (on Dargom canal and as part of Quyichatkal hydroelectric power station), the modernization of the operating Farhad and Tupalang hydroelectric power plants. Partnerships are also being discussed in a number of hydropower projects.
LUKOIL produced 84.4 BCM of natural gas between 2004-2020 under two PSA in Kandym and Gissar fieild groups. The volume of actually utilized investments in these projects amounted to over $ 7.4 billion.
The Shakhpakhty and Djel fields are being developed with Gazprom. As of November 1, Shakhpakhty produced 4.53 BCM of gas. In addition, work is underway to implement the PSA at Mustaqillikning 25 Yilligi field.
In addition, a joint venture is being set up with LUKOIL to carry out geological exploration, with potential investment blocks currently being examined.
