Uzbekneftegaz, Uzbekistan’s state-owned oil and gas company, has partnered with US-based Cargill to enhance the country’s energy security. The agreement involves attracting up to $3bn in financing, aiming to improve energy sustainability and support sustainable development initiatives. Projects will focus on enhancing energy reliability, efficiency, and sustainability.

The partnership with Cargill is expected to address Uzbekistan’s growing energy consumption, climate change impact, and need for industrial modernization. UNG Overseas will manage strategic activities with global partners, while Cargill will provide solutions leveraging its expertise in structured financing. The deal is set to mobilize international investment in Uzbekistan’s priority sectors.

In addition to the agreement with Cargill, Uzbekistan has also signed energy sector deals with US companies, totaling over $4bn. These agreements, including those with Air Products, aim to advance Uzbekistan’s transition to greener energy. Air Products will support projects like a petrochemical complex in Bukhara and clean jet fuel refining.

Air Products previously signed a $1bn deal to operate a natural gas-to-syngas processing unit in Uzbekistan in 2023. These initiatives are part of Uzbekistan’s efforts to modernize its energy infrastructure, increase sustainability, and attract international investment. The partnerships with US companies are crucial for the country’s energy security and development goals.

Read more at Yahoo Finance: Uzbekneftegaz, Cargill sign deal to boost Uzbekistan energy security