Uzbekistan and Azerbaijan are planning major projects in the energy sector, an informed source told Trend.
‘An agreement has been signed with Azerbaijan’s state oil company SOCAR on geological exploration in Ustyurt, a joint trading company has been launched. Work is underway to organise production of chemical reagents and oil and gas equipment in Uzbekistan ($8.1 million), as well as to study participation in upstream projects in Azerbaijan,’ the source said.
The interlocutor of the agency noted that it is proposed to start working on the generation and sale of solar energy by industrial enterprise ‘FAS Energy’ (Uzbek-Azerbaijani Investment Company, $150 million), as well as modernisation and reconstruction of 3 substations with voltage of 110 kV located in Fergana, Khorezm and Tashkent regions (‘Azenko’, $8 million).
It should be noted that Uzbekistan is actively modernising and expanding its energy infrastructure. In recent years, major facilities worth $5.9bn have been commissioned.
