Uzbekistan, South Korea discuss cooperation in energy sector
Tashkent, Uzbekistan (UzDaily.com) -- At the Ministry of Energy of the Republic of Uzbekistan, Minister of Energy Alisher Sultanov met with a number of delegations from the Republic of Korea on 18 April 2019.
During the meeting, the Korean side noted the dynamic development of modern Uzbekistan, in particular, the President of the Export-Import Bank of Korea (Korea Eximbank) Ying Sung highly appreciated the changes in the country and noted that reforms in the energy sector are one of the most important factors of sustainable social development. -economic growth of the country, increasing business activity and investment attractiveness of the republic, living standards and welfare of the population.
The parties discussed the implementation of projects, financed by Korea Eximbank, including the construction of a plant for the production of synthetic liquid fuel (“Uzbekistan GTL”) and the Surgil Gas Chemical Complex (“Uz-KorGasChemical”). Successful implementation of such projects is also a significant indicator for Korean investors planning investments in the Republic of Uzbekistan.
The meeting also discussed projects, proposed for implementation with the financing of Korea Eximbank. These include the modernization of the Bukhara refinery, the construction of a CCGT at the newly constructed thermal power plants, the introduction of an automatic control and information collection system (SCADA), as well as an automatic control system and metering of electricity consumption (AMR). The Uzbek side also proposed to consider the possibility of raising funds from the Korean Economic Development and Cooperation Foundation (EDCF) for SCADA projects.
It was also agreed to establish a joint working group to ensure transparency and speed up the procedures related to opening credit lines in order to start financing projects before the end of 2019.
A discussion was also held with the delegation of the Korean Energy Agency (CEA) headed by the president of the agency Kim Chan-Seb on the issues of improving the energy efficiency of thermal power plants, modernizing and improving the energy system. The Korean side expressed the opinion that it would be advisable to replace the equipment on worn-out thermal power plants, and not to build new capacities. The delegation expressed interest in visiting existing power plants in Uzbekistan.
The Ministry of Energy also accepted the delegation of the company Korea Telecom (KT), headed by the senior executive vice president Young-Young Pak. The Korean side noted the success of the project on the implementation of the AMR system and expressed interest in participating in SCADA projects, as well as the project of energy management systems (EMS). The company is ready to assist in other projects that require the introduction of modern energy metering technologies, the modernization of the relevant infrastructure, as well as in personnel training.
During the meetings, Korean companies Posco International, Kepco and Hyundai expressed interest in cooperating in developing potential projects through the creation of a consortium. With this in mind, on 19 April, during the Uzbek-Korean business forum, a Memorandum was signed with a consortium for cooperation in the energy sector.
The parties agreed to create a joint working group to study and develop projects for the construction of combined cycle CCPP, implementation and modernization of applicable automatic control systems and data collection (SCADA), power management systems (EMS) and relevant information and modern technologies, as well as in other areas cooperation of mutual interest.
Posco International also additionally requested a new block for geological exploration at potential natural gas fields. The Korean side expressed its willingness to assist in the training of qualified personnel and the organization of advanced training programs for the fuel and energy sector of Uzbekistan.