Uzbekistan and the U.S. Agree on US$3–4 Billion Energy Projects

Tashkent, Uzbekistan (UzDaily.com) — Uzbekistan and the United States have reached an agreement to implement energy projects with a total value of US$3–4 billion, Energy Minister Jurabek Mirzamahmudov said in an interview with Uzbekiston 24.

According to the minister, the American company Air Products is ready to make new investments and diversify its activities in the country. The Ministry of Energy has signed major agreements to replace gas units with electric motors in the gas transportation system, as well as at existing compressor and booster stations. The U.S. Export-Import Bank has expressed interest in financing these projects.

In the drilling sector, agreements were signed with Schlumberger and Baker Hughes to implement modern technologies, expertise, and management practices. Additionally, Uzbekneftegaz and Gulf Company concluded a US$100 million memorandum to establish a nationwide network of fuel stations. The minister noted that the replacement of units at compressor stations under the two- to three-year program is estimated at a minimum of US$800 million, while the U.S. Exim Bank is prepared to open a credit line of US$852 million to support these works.

Jurabek Mirzamahmudov clarified that, taking into account all new agreements—including Air Products projects for coal gasification, synthesis gas production, and manufacturing of ammonia, methanol, and other value-added products—the total investment volume could reach US$3–4 billion.

Previously, President of Uzbekistan held talks with Air Products CEO Eduardo Menezes, resulting in an agreement to accelerate the implementation of the Bukhara gas chemical complex, coal gasification projects, and the production of environmentally friendly aviation fuel.