American company planning to invest in oil and gas sector of Uzbekistan

Oil&Gas Materials 9 August 2018 12:03 (UTC +04:00)

Baku, Azerbaijan, Aug. 8

By Fikret Dolukhanov – Trend:

The American gas chemical company Air Products is interested in long-term direct investments in Uzbekistan and in full-fledged presence in the market, rather than in the sale of equipment or services, the Uzbek oil and gas company Uzbekneftegaz JSC stated.

According to the information, the US company is ready to invest in projects for production of industrial gases for the needs of the oil and gas, chemical, pharmaceutical, metallurgical and other industries of Uzbekistan, as well as in the project for production of polymers from natural gas (MTO – methanol to olefins).

The corresponding announcement was made on Aug. 8 during the talks between Prime Minister of Uzbekistan, Chairman of the Board of Uzbekneftegaz JSC Alisher Sultanov with Chairman of the Board of Directors, President and CEO of Air Products Seifi Ghasemi.

During the meeting, Ghasemi said that the company decided to continue investing in four priority countries of the world - China, Saudi Arabia, Russia and Uzbekistan, which are the most promising, profitable and reliable for foreign investors.

Also, the president of the American company offered to organize in Uzbekistan a meeting of top managers of leading oil and gas companies of the world such as Total, BP, SOCAR, Honeywell/UOP.

Following the meeting, the parties agreed on establishment of joint working groups and on preparation of specific proposals within two months for joint implementation of projects in the oil and gas, chemical and metallurgical industries. The companies also developed a schedule of further actions for implementation of joint projects.


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