Vedomosti: Uzbekistan wanted to buy 3.6 times more gas from Russia
The authorities of Uzbekistan wanted to increase the volumes of gas purchased from Russia from 9 to 32 million cubic meters per day. On the former Soviet republic's plans to buy more fuel, citing the country's government reports Vedomosti newspaper.
They plan to increase supply volumes by 3.6 times by modernizing the main system. About $500 million will be allocated for these activities from 2024 to 2030.
The countries signed an agreement on natural gas supplies in June 2023. Until this point, Uzbekistan produced fuel independently, after which it exported it to China and Russia. According to the head of Gazprom, Alexey Miller, by mid-2024 the company plans to sign fifteen-year gas transit agreements with Uzbekistan, Kazakhstan and Kyrgyzstan.
The cost of the contract is not disclosed, however, according to calculations by the Argus agency, the fuel, taking into account transit through Kazakhstan, was estimated at $138 per thousand cubic meters. As of February 21, spot quotes on the European TTF Hub Index are estimated at $264-$272 for the same volume. Prices in East Asia on February 20 are even higher – $299.
Russian President Vladimir Putin called the supply route through Kazakhstan effective, as it allows for the most efficient use of existing gas transportation networks and will contribute to the development of the entire Central Asian region.” The Russian President called future consultations on supplies to Turkmenistan promising, since the country “traditionally participates in these markets.”
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