UK to finance large oil and gas projects in Uzbekistan
Baku, Azerbaijan, April 19
By Fikret Dolukhanov – Trend:
The United Kingdom is planning to invest 1.25 billion pounds (over $1.77 billion) in the oil and gas industry of Uzbekistan, Uzbek media reported on April 19.
According to the information, Uzbek Reconstruction and Development Fund and the United Kingdom Export Financing Agency (UKEF) signed memorandum of understanding within the framework of the first British-Uzbek energy forum titled Investment Potential of the Uzbek Oil and Gas Industry held in London on April 18.
The program of the two-day forum includes two plenary sessions, B2B meetings, as well as presentations of the participating companies. Further development and implementation of the alternative energy sources will also be discussed.
Main goal of the of the forum is discussing organization of investment projects in Uzbekistan’s oil and gas industry, attraction of modern technologies and participation of international consultants.
The forum was organized by the State Investment Committee of Uzbekistan and Uzbekneftegaz JSC with support of the Uzbek embassy in the UK. The event was attended by the UK Minister of State at the Department for International Trade Rona Fairhead, as well as representatives of international financial institutions, commercial banks, oil and gas and economy sectors of the UK and Europe.
The sides agreed to hold the forum on regular basis not only in London, but also in Uzbekistan with participation of British and European companies.
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