Baku, Azerbaijan, July 5
By Fakhri Vakilov- Trend:
The Uzbekistan-China gas pipeline is currently one of the most profitable projects of Uzbekneftegaz, Trend reports via Uzbek media.
"We are currently working with China National Petroleum Corporation (CNPC) on project documentation for the fourth branch of this gas pipeline. It will pass through the territory of the Surkhandarya region, that is, it will not repeat the route of the first three working threads,” Chairman of the board of Uzbekneftegaz Bakhodirjon Sidikov said.
A joint venture created on a par with CNPC will construct the fourth branch.
Sidikov stated that currently, the working groups of the two companies are studying the application of international standards in the construction of the gas pipeline and are working on project documents.
"On three operating lines, loans were borrowed from Chinese banks by Asia Trans Gas JV. We also have a 50 percent stake in that. The return of all loans was guaranteed by CNPC, so, in this regard, Uzbekneftegaz was responsible only in terms of replenishing the authorized fund of this JV. I think this is one of the most profitable projects to date at Uzbekneftegaz,” he stressed.
Sidikov added that the three gas lines are aimed at transporting gas in the amount of 50 billion cubic meters with a distribution of 15, 15 and 20 billion cubic meters.
He noted that the first two lines transport only Turkmen gas through Uzbekistan. The third branch is filled with Uzbek and Turkmen gas. Uzbekistan has invested $1.5 million in share capital.
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