British businesses show interest in Uzbekistan’s energy sector at EIC event

British businesses show interest in Uzbekistan’s energy sector at EIC event

14 Apr 2021

The EIC’s Uzbekistan Energy Market Update brought ministers, NOCs and leading EPC contractors to meet with the UK supply chain

The Energy Industries Council (EIC) highlighted the vast energy opportunities available in Uzbekistan to British businesses in their latest market-focused virtual event.

UK energy supply chain companies were keen to engage with the speakers at the EIC LIVE e-vent: Uzbekistan Energy Market Update on Wednesday 7th April.

H.E. Mr Said Rustamov, Ambassador of Uzbekistan to the United Kingdom, who led the welcome and introductions to the event, said: “Uzbekistan is undertaking a massive programme of privatisation, no more so than in the energy sector.

“Our state energy enterprises are revamping themselves for a future without state loan guarantees. We are welcoming a diverse array of international operators, and we plan to derive 25% of our energy needs from renewable resources over the coming decade.

“Let me thank the EIC for organising this event. It comes at an exciting moment in my nation’s development.”

In the opening presentations, Bekhzot Narmatov, Deputy Minister of Energy and Aziz Khamidov, Head of Department at the Ministry of Investments and Foreign Trade highlighted the vast opportunities available in the oil & gas sector and the proposed market reforms in the country.

National Uzbekistan firms Uzbekneftegaz JSC and Uzbekhydroenergo JSC then highlighted their processes and upcoming projects at each firm and how British businesses could capitalise on their opportunities.

Joining a Q&A session after the presentations were Ravshanbek Duschanov P.h.D, Head of Trade & Investment at the Embassy of the Republic of Uzbekistan to the United Kingdom, Bahodir Husanov, Investment Sector Head at the Ministry of Investment and Foreign Trade, and Wood Plc’s Damon Hill, President Growth and Development Projects and Stefano Donzelli, VP Business Development – Global Process & Chemicals.

EIC Director of the Middle East, Africa and Caspain, Ryan McPherson, said: “We were delighted to work alongside The Embassy of the Republic of Uzbekistan to the United Kingdom to deliver this event which highlighted the array of opportunities to the UK Supply Chain. 

"With a thriving economy and a growing market in the power and renewables sector, highlighted by the recent £1billion power project being developed by ACWA Power and the Masdar Zarafshan wind project, Uzbekistan is a country that should be on the agenda for all interested energy companies.”.

For more information about the EIC’s upcoming energy market updates, please visit the EIC website here: https://www.the-eic.com/Events...

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