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ADB to assist in Corporate Development of Uzbekneftegaz JSC

Uzbekneftegaz JSC held September 10 a meeting with representatives of the Asian Development Bank (ADB), at which the issue of providing technical assistance to Uzbekneftegaz JSC with the purpose of corporate transformation was discussed.
As part of this assistance, it is envisaged to involve consultants from ADB who will carry out the necessary research and comparative analysis with leading oil and gas companies, followed by a report and recommendations.
The meeting also discussed the issue of ADB’s participation in financing of the ‘Program of technical re-equipment, modernization and development of the gas transportation system of the Republic of Uzbekistan.’
ADB representatives were provided with presentation material on this Program, which includes the main technical parameters of the Program, planned activities and timelines for implementation.

The interest of ADB representatives in participating in the financing of the project on the modernization of the gas transportation network is expressed in the fact that the implementation of the project will increase the trade turnover between Asian countries, which is in line with ADB’s policy.

During the meeting preliminary conditions for the project financing were also announced.
For the purpose of exchange the necessary information on this project, the parties signed the ‘Confidentiality Agreement’ on April 5, 2018.

Press service, Uzbekneftegaz JSC
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