Tashkent, Uzbekistan (UzDaily.com) -- During the working trip of the delegation of the Ministry of Energy of the Republic of Uzbekistan on 13-15 December 2020, a number of agreements with the Russian side were signed in the capital of the Russian Federation aimed at the implementation of promising projects for the further development of the domestic fuel and energy complex.

In particular, Sibur Holding, Gazpromneft and Uzbekneftegaz signed agreements on cooperation on joint implementation of projects: the creation of a gas chemical complex using MTO technology and the expansion of the production capacity of the Shurtan Gas Chemical Complex. The signing of these agreements will allow studying the possibility of attracting leading Russian companies, as well as their experience, in the implementation of projects in the field of deep processing of hydrocarbons.

IKS Holding and the Ministry of Energy of the Republic of Uzbekistan signed a contract to develop a concept for digitalization of the energy industry. The implementation of work under this contract will lead and streamline the development of information and communication technologies in a single vector for all subordinate companies, which in turn will significantly reduce the cost and efficiency of ICT projects.

VEB.RF, Gazprombank and Uzbekneftegaz signed an agreement to finance stage II of the Program to increase hydrocarbon production in 2017-2021 in the amount of US$100 million. As a result of signing this document, advanced financing will be organized II stage of the Program to increase the production of hydrocarbon raw materials, which, in turn, will ensure an increase in the volume of hydrocarbon production for the needs of the Republic of Uzbekistan.

Also, in the amount of US$100 million, an agreement was signed between VEB.RF and Jizzakh Petroleum JV on financing the export of Russian equipment and services for the implementation of the Program to increase oil in 2020-2030.

The state development corporation "VEB.RF" and Uztransgaz signed an agreement on cooperation in financing projects for the modernization of the gas transmission system, as well as updating and completing emergency and special equipment for the divisions of Uztransgaz. The implementation of these projects by attracting financing on preferential terms will improve the safety conditions for the operation of the gas transportation infrastructure, increase the reliability of supplying the population with natural gas, and also reduce the volume of natural gas losses during emergency response.

EXIAR, Eriell Group and ChelPipe signed an agreement on the supply of pipe products for projects implemented in Uzbekistan for up to US$75 million.

Also, Uztransgaz signed a Memorandum of Understanding with Russian Export Center with the aim of attracting preferential financial resources to finance promising projects to modernize the gas transmission network of the Republic of Uzbekistan.