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Uztransgaz increases net profit by 18.6 percent in 2010

Oil&Gas Materials 10 May 2011 19:10

Uzbekistan, Tashkent, May 10 / Trend, D.Azizov /
The net profit of Uztransgaz, which controlled natural gas transportation and supply in Uzbekistan in 2010, increased by 18.6 percent compared to the previous year to 1.194 trillion soum.
According to the report, its net revenues from product sales in 2010 totaled 4.172 trillion soum (increasing by 35.7 percent), with gross profit from product sales reached 2.462 trillion soum (increasing by 1.5 times).
According to the audited balance sheet, its assets amounted to 9.394 trillion soum (increasing by 1.4 times) in 2010, including long-term assets of 6.364 trillion soum (increasing by 1.6 times), capital investments of 1.006 trillion soum (increasing 23.7 percent), and accounts receivable of 1.23 trillion soum (increasing by 28.8 percent).
Uztransgaz is a part of Uzbekneftegaz, controlling the country's main gas pipelines. To date, the total length of Uzbekistan's gas pipelines is 3,200 km. Uztransgaz exploits 24 compressor and more than 300 distribution stations.
Uzbekistan ranks second among CIS countries for natural gas extraction and holds tenth place among the largest gas-producing countries.
Annually the republic produces about 60 billion cubic meters of gas. According to official statistics, natural gas production in Uzbekistan decreased by 2.1 percent in 2010 and amounted to 60.112 billion cubic meters.
The official exchange rate is 1,694.80 soum to $1 on May 10.

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