Uzbekistan Increases Gas Exports Amidst Declining Production

Uzbekistan produced more than 44.5 bn cubic meters of gas by the end of 2024, which is 4.5% less than in 2023, according to the report of the Statistic Agency.

Against the backdrop of declining gas production, Uzbekistan has ramped up gas imports. Last year, purchases of foreign fuel exceeded $1.6 bn, twice as much as a year earlier. At the same time, the republic increased gas exports by 18.4%, up to $627.7 mln.

According to the agency, gas production in the republic has been falling since 2022.

At the end of 2024, Uzbekneftegaz announced plans to stabilise gas production in the republic. For this purpose, it is planned to attract foreign investment and start drilling new wells and repair of existing fields.

It is also known that Kazakhstan intends to increase the transit of Russian gas to Uzbekistan to 22 bn cubic meters. According to experts’ calculations, Gazprom receives from $20 to $22 profit for gas supplied to Uzbekistan.

At the same time, the profitability of Gazprom’s gas supplies to the republic may increase due to the abolition of export duties by Tashkent.

Kursiv Uzbekistan also reports that last year TPPs in Uzbekistan saved one bn cubic meters of gas.