Uzbekneftegaz and Cargill Sign US$3–5 Billion Financing Agreement

Tashkent, Uzbekistan (UzDaily.com) — UNG Overseas, the international trade and investment subsidiary of Uzbekneftegaz, and the U.S. corporation Cargill have signed a strategic cooperation agreement aimed at strengthening Uzbekistan’s energy security, the state company’s press service reported.

Under the agreement, the parties plan to secure long-term financing of up to US$3 billion, with the possibility of increasing the total limit to US$5 billion. The partnership’s primary objective is to enhance the reliability and resilience of the country’s key systems, including energy, water management, and the environmental sector, taking into account rising energy demand, climate change, and industrial modernization.

The agreement will focus on projects related to supplying energy to the population and industry, reducing systemic risks, modernizing infrastructure, improving the management of energy and water resources, ensuring ecological balance, boosting industrial competitiveness, and strengthening energy independence. UNG Overseas will coordinate strategic engagement with international partners, while Cargill will provide solutions based on its global expertise in structured financing.

Earlier, in September 2025, during the President’s visit to the U.S., Uzbekhydroenergo and Cargill Financial Services International signed a financial cooperation agreement. In October, Uzbekneftegaz announced the establishment of its UAE-based subsidiary, Orient Energy Limited, under the UNG Overseas brand. This entity will attract funds from international financial institutions and investors for major energy and infrastructure projects.

The new structure will serve as an international investment and trading hub, forming part of Uzbekneftegaz’s strategy to enter the global market and attract foreign investment.