AsiaTransGas JV exempted from obligatory sale of currency in Uzbekistan

Oil&Gas Materials 5 May 2011 17:41 (UTC +04:00)

Uzbekistan, Tashkent, May 5 / Trend D.Azizov /

The AsiaTransGas JV, which is engaged in the design, construction and operation of the Turkmenistan-China (Uzbekistan-China) gas pipeline, has been exempted from the mandatory sale of foreign currency earnings, a source in the government circles told Trend with reference to President Islam Karimov's corresponding decree.

AsiaTransGas is exempted from the mandatory sale of foreign exchange earnings for the period until full repayment of foreign loans attracted to implement the gas pipeline construction project.

The construction was launched July 1, 2008. The pipeline's diameter is 1,067 millimeters, length - 530 kilometers and capacity - 30 billion cubic meters of gas.

The pipeline passes through three provinces - Bukhara, Navoi and Kashkadarya - with further entry to the gas transmission system in Kazakhstan.

The operator is the Uzbek-Chinese joint venture Asia Trans Gas created by Uzbekneftegaz and the China National Petroleum Corporation on a parity in April 2008.