TASHKENT, Uzbekistan, February 22. Uzbekistan will allocate funds to modernize the main gas pipeline system to increase the volume of natural gas imports to the north, Trend reports.
Uzbekistan adopted a resolution on measures to implement investment projects in the first quarter of 2024.
The resolution says that Uztransgaz JSC (Uzbek energy company) will implement the first stage of the program on modernization of the main gas pipeline system to increase the volume of natural gas imports in the northern direction for 2024-2030.
The document says that the cost of the first stage of the program is $500 million. It is planned to use $13.7 million in the first quarter of 2024, of which $10.5 million are Uztransgaz's own funds and $3.2 million are direct foreign investments.
As a result of modernization, Uzbekistan will be able to import up to 32 million cubic meters of gas per day to the north.
Uzbekistan and Russia's Gazprom signed a two-year contract for natural gas supply. Under the contract, Gazprom will supply 9 million cubic meters of gas per day or about 2.8 billion cubic meters per year.
In October 2023, Gazprom began supplying gas to Uzbekistan via Kazakhstan. Uzbekistan buys gas from Russia to cover part of the shortage of blue fuel in the fall-winter period.
Also, Uzbekistan is interested in increasing natural gas imports from Russia and intends to develop cooperation in this area on a long-term basis.
Meanwhile, Uzbek Uztransgaz JSC wants to invest $470 million in 2024-2030 to increase imports of Russian natural gas.
According to the head of Russian Gazprom company Alexei Miller, the company is discussing cooperation with Kazakhstan, Uzbekistan and Kyrgyzstan for a long-term period of 15 years, including opportunities for gas transit to third countries.