TASHKENT, Uzbekistan, February 25. The Asia Trans Gas (an Uzbek-Chinese joint venture) is set to enhance its operational efficiency and strengthen collaboration with major Chinese oil and gas enterprises, Trend reports.
These initiatives were discussed during a meeting between the leadership of Uzbekneftegaz (Uzbekistan's oil and gas company) and the Chinese Trans-Asia Gas Pipeline Co. Ltd. company.
In the course of the discussions, parties emphasized the strategic importance of the joint venture and its role in fostering economic ties between Uzbekistan and China. They reviewed the company’s achievements over the years, assessed its performance in 2024, and outlined future objectives.
The key decision included approval of a proposal by the Chairman of the Board of Trans-Asia Gas Pipeline Co. Ltd. to improve operational efficiency, reduce costs for 2025, and revise the business plan. The initiative aims to optimize the company's financial and strategic approach while ensuring sustainable growth.
Following the results of the meeting, a protocol will be adopted, which will spell out specific tasks related to the joint venture's activities and their implementation.
Furthermore, an agreement was reached to initiate negotiations with major Chinese oil and gas enterprises to analyze and explore potential joint projects, further strengthening the partnership between Uzbekistan and China in the energy sector.