Tashkent, Uzbekistan, Feb. 4
By Demir Azizov- Trend:
Uzbek-Chinese joint venture (JV) UTG-Kerui has started to construct CNG filling stations' network in Uzbekistan, a representative of Uzbekneftegaz national holding company told Trend.
"Currently, the construction of the stations has started in five provinces of the country," said the source.
The JV plans to construct a total of 46 CNG filling stations in all regions of the country by 2017 and invest $70 million in their construction, according to the company representative.
UTG-Kerui JV was created on a parity basis in 2014 by Avtogaztaminot (a subsidiary of Uzbekneftegaz) and China's Shandong Kerui Petroleum Equipment Co. Under the contract, the joint venture will also operate the stations. The project is financed by the co-founders of the joint venture.
It was earlier reported that a joint venture between Uzbekistan and South Korea - Kor UNG Investments was created in 2011 on a parity basis. Its co-founders were Avtogaztaminot and a South Korean consortium, which included Kogas, Kolon, Kwangshin and EngineTech companies.
The JV was to build 50 CNG filling stations with a total cost of $42.8 million in 2011-2015. However, the project's parameters were revised several times, the number was increased to 60 and the cost increased to $105 million.
The South Korean side supplied equipment for four stations in 2012. However, it refused from further construction due to the financial disagreements with the Uzbek side.
Currently, around 15 percent of the total number of vehicles registered in Uzbekistan (around 3 million) run on gas, according to the official data.
Uzbekneftegaz's capacity allows it to produce 70 billion cubic meters of gas and 8 million metric tons of liquid hydrocarbons per year.
Edited by CN
