The US will invest several billion dollars in Uzbekistan’s energy sector
During the negotiations, the parties reached major agreements.
Uzbekistan and the USA agreed to implement energy projects worth $3-4 billion. This was stated by the Minister of Energy, Jurabek Mirzamahmudov, in an interview with “Uzbekistan24”.
The American company Air Products expressed its readiness to increase the volume of investments in Uzbekistan and diversify its activities. During the negotiations, the parties reached major agreements on replacing gas units with electric motors in the gas transportation system, as well as at existing compressor and pressure stations.
The US Export-Import Bank has shown great interest in financing these projects. Mirzamahmudov clarified that the modernization program is designed for two to three years and is estimated at at least $800 million, and the bank has already expressed its readiness to open a $852 million credit line.
The Ministry of Energy signed agreements with Schlumberger and Baker Hughes on the application of new technologies, experience, and management methods in the field of drilling. Also, Uzbekneftegaz and Gulf signed a $100 million memorandum, which provides for the creation of a network of gas stations throughout the country.
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