TASHKENT, Uzbekistan, October 22. Leading international banks, including Standard Chartered, ICBC Standard Bank, Citi, Deutsche Bank, Barclays, and MUFG, have expressed interest in financing Uzbekneftegaz's (Uzbekistan's oil and gas company) activities in 2024-2025, Trend reports.
The news followed a meeting between Uzbekneftegaz’s delegation and representatives of these banks.
During the meeting, the sides discussed the latest corporate achievements and production results of the company, trends in the oil and gas industry, as well as priority tasks and financing needs for the future.
The banks also proposed various financial instruments, such as the organization of syndicated loans, the issuance of additional Eurobonds, and hedging strategies. Participants also considered alternative financing options through Export Credit Agencies and the Multilateral Investment Guarantee Agency.
A key part of the discussions centered on emission reduction projects, aligning with the oil and gas sector's environmental, social, and governance (ESG) objectives.
Earlier, Uzbekneftegaz and investment companies such as BlueBay Asset Management, Vanguard, Ashmore Group, Aviva Investors, Pictet Asset Management, Aberdeen, AllianceBernstein, Amundi Pioneer, and others discussed cooperation in accessing European markets through the Middle Corridor.
The companies also expressed interest in the establishment of a foreign trade company in Uzbekistan.