Uzbekistan intends to increase the depth of natural gas processing to obtain products with higher added value, instead of using the fuel solely for electricity generation. President Shavkat Mirziyoyev announced these plans on October 16 during an open dialogue with investors in the fuel and energy sector.
The President emphasized that the main criterion is not only the volume of electricity produced from natural gas but also the additional economic value that can be created through its processing.
As an example of existing production, Mirziyoyev mentioned the synthetic liquid fuel complex in the Kashkadarya region, which annually produces up to 1.5 million tons of fuel and other products.
The implementation of the MTO (methanol-to-olefins) project is planned in the Bukhara region. This project will produce polyethylene, polypropylene, and polyethylene terephthalate (PET). Additionally, Uzbekistan plans to modernize oil refineries in Bukhara and Fergana.
Mirziyoyev stated that the government expects investors to present proposals based on modern technologies that meet environmental requirements and are economically viable. Key criteria for selecting projects will be competition, transparency, economic efficiency, and mutual benefit.
In parallel, Uzbekistan is strengthening international cooperation in geological exploration and increasing the efficiency of field development. Exploration work is underway on six investment blocks in the Ustyurt Plateau in partnership with SOCAR from Azerbaijan and BP from the UK.
Another 128 blocks have been prepared to attract foreign partners. Their resources are estimated to include 5.8 trillion cubic meters of natural gas and 560 million tons of liquid hydrocarbons.
