Investments in Gazprom’s PSA in Uzbekistan are estimated at $200 million; Uzbekistan has become a partner of the Vibrant Gujarat investment summit; Uzbekistan and Germany signed agreements worth over $4 billion; EBRD invests in modern power generation in Uzbekistan; Uzbekistan abolished the practice of coordinating the composition of supervisory boards of banks and business entities with state bodies; Uzbekistan ranks 18 in the list of countries with cheapest petrol price.
Investments in Gazprom’s PSA in Uzbekistan are estimated at $200 million
Investments in the development of the Djel field with the participation of Gazprom under the terms of a production sharing agreement (PSA) are estimated at $200 million, follows from the investment program for 2019, approved by the decree of President Shavkat Mirziyoyev.
The design production capacity of the field will be 300 million cubic meters of natural gas and 3 thousand tons of gas condensate.
The Djel field was discovered in 2009 on the Shakhpakhti block. The field’s reserves make up 6.4 billion cubic meters of gas and 76 thousand tons of gas condensate.
Uzbekistan has become a partner of the Vibrant Gujarat investment summit
Uzbekistan became the first country in Central Asia to be a partner of the Vibrant Gujarat investment summit, which will be held January 18-20.
Uzbekistan’s participation in the summit includes meetings at the government and business level, an exhibition fair, a seminar and the first meeting of the Uzbek-Indian Business Council.
Indian companies are exploring investment opportunities in the pharmaceutical, textile, educational, IT, tourism and other sectors of Uzbekistan.
Uzbekistan and Germany signed agreements worth over $4 billion
The Uzbek-German business forum, organized in Berlin by the State Investment Committee of Uzbekistan, signed agreements on the implementation of projects totaling more than $ 4 billion.
The event was also attended by over 300 representatives of 234 companies and banks of Germany.
The signed agreements relate to the oil and gas sector, petrochemistry and energy, health care and pharmaceuticals, agriculture and the food sector, the production of building materials and the construction of hotels.
EBRD invests in modern power generation in Uzbekistan
Power supply in south Uzbekistan will be significantly improved due to the construction of the additional generation capacity at existing Talimarjan power plant (TPP) with the help of $240 million sovereign loan provided by the EBRD to JSC Uzbekenergo. The project will be the largest EBRD investment in Uzbekistan to date.
The new project will help improve the efficiency and reliability of the power supply in Uzbekistan and contribute to the government’s objective to create modern power generation capacities across the country. This is particularly important for Uzbekistan, the most populated state in Central Asia. Currently, energy losses of up to 20 per cent are experienced due to unreliable power supply and obsolete facilities across the country.
The new high-efficiency combined cycle gas turbines design will help reduce carbon intensity to around 350 kg CO2/MWh, which is approximately half the current average across the power sector in Uzbekistan. The project will enable the significant reduction of the carbon footprint of the national power sector.
Uzbekistan abolished the practice of coordinating the composition of supervisory boards of banks and business entities with state bodies
Uzbekistan is introducing a new procedure for appointing and managing banks and business entities with a state share. From April 1, 2019, the composition of supervisory boards of banks is approved by a decision of the general meeting of shareholders without the consent of state bodies, organizations or their officials.
Business entities will independently make decisions on the determination of wages, the number of managerial and technical personnel, the number of motor vehicles and other issues on which a special procedure for economic management bodies has been established in accordance with legislation.
The executive body of the business entity (head and deputy heads) is selected on a competitive basis from the most experienced specialists, including foreign ones, and is appointed by decision of the general meeting of shareholders or the supervisory board without coordination with government bodies, organizations or their officials.
Uzbekistan ranks 18 in the list of countries with cheapest petrol price
Uzbekistan ranked 18th in the world in cheap gasoline with a price of 0.54 cents per liter, according to the Global Petrol Prices (USA) rating.
Uzbekistan bypassed the United States and Russia, which ranked 25th and 26th with a price of $0.68. In addition, Kazakhstan is on 12th place ($0.48), Belarus – on 30th ($0.71), Georgia – on 53rd ($0.9).
The highest gasoline price is in Hong Kong ($2.04 per liter). Next comes Monaco – $1.98, Wallis and Futuna – $1.9, Norway – $1.85, and Barbados – $1.8 per liter.