Uzbekistan, Tashkent, July 30 /Trend, D. Azizov/
Uzbek-Korean joint venture Ko-UNG Cylinder has put into operation a plant for the production of gas cylinder equipment worth $26 million, a source in the National Holding Company (NHC) Uzbekneftegaz told Trend on Tuesday.
According to the source, the design capacity of the plant that is located in the Navoi free industrial economic zone (Navoi region) is 120,000 automobile gas cylinders annually.
KO UNG Cylinder JV was created in 2011 by Avtogaztaminot, a subsidiary of NHC Uzbekneftegaz, Uzbekhimmash (included in the holding) and Korean Kogas, Kolon and NK companies.
Avtogaztaminot specializes in the supply of compressed natural gas for automobile gas filling compressor stations. Uzbekhimmash is an enterprise specializing in the design, manufacture and service of equipment for the petrochemical industry.
In early 2007, the Government of Uzbekistan adopted a program of the phased transfer of motor transport to natural gas.
Currently, more than 300,000 vehicles are running on natural gas in the country, accounting for about 10 percent of the total amount. By 2016, this figure is planned to reach 30 percent.
NHC Uzbekneftegaz is the monopoly operator of the oil and gas sector of Uzbekistan. The company was established in 1998 and comprises six joint stock companies.
Uzbekistan holds third place among the CIS countries for the production of natural gas and is among the ten largest gas-producing countries in the world.
Every year, the country produces more than 60 billion cubic meters of natural gas, about 25 percent of which is exported.