World Bank ready to invest in Uzbekneftegaz’s projects to reduce methane emissions

Uzbekistan Materials 17 May 2024 10:39 (UTC +04:00)
Kamol Ismailov
Kamol Ismailov
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TASHKENT, Uzbekistan, May 17. The World Bank expressed readiness to provide financial support to the projects implemented by Uzbekneftegaz (Uzbekistan’s oil and gas company) to reduce methane emissions, Trend reports.

This was announced at a meeting between Uzbekneftegaz and the World Bank within the framework of the Oil and Gas of Uzbekistan - OGU-2024 International Exhibition.

Both sides discussed opportunities for investment in projects to improve energy efficiency, increase gas production, and reduce methane emissions.

In addition, Uzbekneftegaz presented information on projects aimed at improving the energy efficiency of the company's facilities and reducing methane emissions.

Meanwhile, the World Bank's total loan amount for Uzbekistan amounts to $4.5 billion as of April 2024.

The data from the bank shows that $3.5 billion has already been allocated to Uzbekistan, while $567.1 million can still be drawn down. The country also has $3 billion in debt to the bank.