Gazprom inks gas purchase contracts with Uzbekistan

abarrelfullabarrelfull wrote on 28 Dec 2010 11:32
Tags: deals gas gazprom uzbekistan

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A Gazprom delegation led by Alexander Medvedev, Deputy Chairman of the Company's Management Committee paid a working visit to the Republic of Uzbekistan. As part of the visit, Alexander Ananenkov met with Rustam Azimov, First Deputy Prime Minister of the Uzbek Government, Gulomjon Ibragimov, Deputy Prime Minister and Shokir Faizullayev, Chairman of the Board of Uzbekneftegaz.

Following the meeting results, the parties signed gas purchase contracts for 2011‑2012 and an Agreement for natural gas transmission via the Republic of Uzbekistan over the same period.

Moreover, the parties agreed to enhance joint ventures efficiency, particularly in the finance sector.

The Agreement of Strategic Cooperation in the gas industry between Uzbekneftegaz and Gazprom was signed on December 17, 2002. In particular, the Agreement provides for long-term procurement of Uzbek gas in 2003–2012, Gazprom's participation in natural gas production projects in the Republic of Uzbekistan on the PSA terms as well as cooperation in the field of Uzbekistan's gas transmission infrastructure development and Central Asian gas transmission through the Republic.

On February 5, 2005 Gazprom and Uztransgaz (a sub-holding company of Uzbekneftegaz) signed the medium-term Agreement to convey natural gas through Uzbekistan from 2006 to 2010. The Agreement was made for the purpose of Central Asian gas transmission, primarily Turkmen gas, with the use of the Central Asia – Center and Bukhara – Urals gas transmission systems running across the Republic of Uzbekistan.

On January 1, 2009 Gazprom coordinated the terms and conditions for natural gas supply from Uzbekistan in 2009 and signed an addendum to the contract for Uzbek gas supply providing for the price formula based on average European gas prices.

On December 11, 2009 Gazprom and Uzbekneftegaz inked the addendum to the contract for natural gas transit across Uzbekistan in 2010 between Gazprom and Uztransgaz, and the major terms and conditions for Uzbek gas supply in 2010.

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