TASHKENT, Uzbekistan, October 1. Uzbekistan and the United States have reached agreements to implement energy projects worth $3–4 billion, Minister of Energy Jurabek Mirzamakhmudov told local media, Trend reports.
According to the minister, the American company Air Products is ready to make new investments and diversify its operations in the country. The Ministry of Energy has executed significant contracts to transition from gas-powered units to electric propulsion systems within the gas transportation infrastructure, including at current compressor and booster facilities. The U.S. Export-Import Bank has indicated a strategic inclination towards capitalizing on these initiatives.
In the drilling sector, agreements were signed with Schlumberger and Baker Hughes to introduce advanced technologies, expertise, and management practices. Additionally, Uzbekneftegaz and the Gulf Company signed a $100 million memorandum to establish a nationwide network of fuel stations. The minister indicated that the retrofitting of units at compressor stations within a biennial to triennial framework is projected to incur costs of no less than $800 million, while the U.S. Exim Bank is poised to activate a credit facility amounting to $852 million to facilitate these initiatives.
Mirzamakhmudov emphasized that, taking into account all new agreements—including Air Products projects for coal gasification, synthesis gas production, and manufacturing ammonia, methanol, and other value-added products—the total investment volume could reach $3–4 billion. Earlier, President Shavkat Mirziyoyev held talks with Air Products CEO Eduardo Menezes, after which both sides agreed to accelerate the implementation of the Bukhara gas-chemical complex, coal gasification projects, and the production of eco-friendly aviation fuel.
Air Products is one of the world’s leading producers and suppliers of industrial gases. With a market capitalization exceeding $63 billion, the company operates nearly 750 production facilities in over 50 countries and produces approximately 200 million tons of industrial gases annually
