Profits of Uzbekistan’s Uztransgaz increase

Business Materials 17 May 2016 11:17

Tashkent, Uzbekistan, May 17

By Demir Azizov - Trend:

The net profit of Uzbekistan's Uztransgaz JSC stood at 552.347 billion soums in January-March 2016, as compared to 485.04 billion soums in the same period in 2015 (13.9 percent increase), said the report posted on the company's website May 17.

The official exchange rate on May 17 is 2914.10 soums/$1.

The Uztransgaz company supervises the transportation, shipping, transit and export of gas in Uzbekistan. It is a subsidiary of Uzbekneftegaz National Holding Company.

The report said that the net proceeds from the sale of products in the first quarter of 2016 stood at 1.748 trillion soums (2.7 percent increase), the gross profit from the sale of products totalled 822.565 billion soums (7.2 percent decrease), while the prime cost of the sold products was 925.963 billion soums (13.5 percent increase).

Uzbekistan ranks third among CIS countries in terms of the gas production volume and is in the top 10 largest gas producers of the world. The country produces around 60 billion cubic meters of gas per year.

A section of the Central Asia-China gas pipeline, which exports Uzbekistan's gas to China, runs through Uzbekistan's territory.