Chinese company seeks to expand presence in oil and gas sector of Uzbekistan
Baku, Azerbaijan, Feb.9
By Nigar Guliyeva - Trend:
A Chinese company expressed a desire to participate in exploration projects to reveal gas fields in Uzbekistan, Uzbekneftegaz said in a message.
Specialists of China's Shenergy Company Limited mulled bilateral cooperation and mutually beneficial partnership at a meeting with representatives of Uzbekistan's oil and gas industry.
Uzbekistan’s Deputy Prime Minister, Chairman of the Board of Uzbekneftegaz JSC Alisher Sultanov stressed that after the visit of President Shavkat Mirziyoyev to China, relations between the two countries reached a new level and a Memorandum of Understanding is planned to be signed to create the legal bases for bilateral cooperation.
The sides also discussed the possibility of using the Uzbekistan-China gas pipeline to transport the gas produced by the Chinese company in Uzbekistan.
Shenergy Company Limited is a China-based company principally engaged in oil and natural gas related businesses. The Company is engaged in the development and operation of electricity projects and oil and gas projects, as well as the sales of fire coal. Its electricity projects include coal power, pneumatic power, hydropower, nuclear power and wind power projects. Its oil and gas businesses include the exploration and development of oil and gas fields, as well as the transportation and distribution of fuel gas.
The proven gas reserves reach 1.1 trillion cubic meters in Uzbekistan. Total reserves are estimated at 5 trillion cubic meters. But the level of production is not comparable with this potential. So, it amounted to only 56.4 billion cubic meters in 2017.
This year, this figure is planned to increase to 66 billion. The gas is exported to Russia, China, Kazakhstan and Kyrgyzstan.