Uzbekneftegaz, Cargill sign deal to boost Uzbekistan energy security

Core Insights - Uzbekistan's state-owned oil and gas company Uzbekneftegaz has entered into a long-term cooperation agreement with US-based Cargill to enhance the country's energy security [1] - The agreement includes attracting long-term financing of up to $3 billion, with potential to increase to $5 billion [1][2] Financing and Development Goals - The financing aims to improve Uzbekistan's energy security, resource sustainability, and support sustainable development initiatives [2] - Funds will be directed towards projects that enhance the reliability, efficiency, and sustainability of energy, water management, and ecological systems in Uzbekistan [2] - The deal addresses rising energy consumption, climate change impacts, and the need for industrial modernization in the country [2] Strategic Coordination and Investment Mobilization - UNG Overseas will coordinate strategic activities with global partners, while Cargill will provide practical solutions leveraging its expertise in structured financing [3] - The partnership is expected to facilitate the mobilization of international investment in Uzbekistan's priority sectors [3] Recent Developments in the Energy Sector - UNG Overseas connects Uzbekistan's energy sector with global markets, focusing on trading, investment, and partnerships in oil, gas, and petrochemicals [4] - In October, Uzbekistan announced new energy sector agreements with US companies valued over $4 billion, including deals with Air Products to support greener energy transitions [4] - Air Products is advancing the construction of a petrochemical complex in Bukhara and has signed a $1 billion deal for a natural gas-to-syngas processing unit in Uzbekistan [5]