Uzbekistan reports natural gas production decline
Over the past four years, Uzbekistan's natural gas production volumes have declined by 21.7 percent, which is explained by the lack of strategic planning and an excessive focus on day-to-day tasks, UzA reports.
At a recent meeting of JSC Uzbekneftegaz, officials reviewed progress on the priority tasks set by the President, focusing on restoring company operations, stabilizing natural gas production, and boosting industrial output.
According to the company’s press service, although substantial funds were allocated this year for geological exploration and technical work, production has not increased. Instead, output has fallen by 5-6%, which negatively impacted the production of other goods.
At present, the gas extracted by JSC Uzbekneftegaz is supplied to the next stage at a price below cost. This adversely affects the company’s financial stability and increases external debt.
Following the meeting, participants outlined certain proposals and initiatives to tackle the sector’s challenges, ensure the sustainable development of natural gas production, and expand reserves. Based on these proposals, a comprehensive action plan to develop the industry was approved.
Earlier, Qazinform reported that on November 15, in Tashkent, on the margins of the state visit of President Kassym-Jomart Tokayev to the Republic of Uzbekistan, JSC NC KazMunayGas (KMG) and JSC Uzbekneftegaz (UNG) entered into an Agreement on Principles for the Zharkyn project.
