Uzbekistan’s state energy company Uzbekneftegaz has signed a major long-term cooperation agreement with U.S. agribusiness giant Cargill, aimed at bolstering the country’s energy security and accelerating sustainable development.
The deal, signed through Uzbekneftegaz’s international subsidiary UNG Overseas, provides for up to $3 bn in long-term financing, with the possibility of expanding the total to $5 bn. Funding will support projects that enhance the reliability, efficiency and ecological sustainability of Uzbekistan’s energy and water systems.
The partnership is designed to help Uzbekistan meet rising energy demand, adapt to climate pressures and modernise key industrial sectors. UNG Overseas will coordinate strategic initiatives with global partners, while Cargill will apply its expertise in structured financing to mobilise international investment.
Based in the UAE, UNG Overseas serves as Uzbekistan’s link to global markets in oil, gas and petrochemicals.
The agreement follows a series of U.S.–Uzbek energy partnerships announced in October, including more than $4 bn in new projects with Air Products to advance green energy, petrochemical development and clean fuel production.
Cargill’s involvement is expected to further expand foreign investment in Uzbekistan’s priority sectors as the country accelerates its energy transition.
Kursiv Uzbekistan also reports that the Ministry of Justice has announced that a new decree signed by President Shavkat Mirziyoyev sets out plans to expand the Tashkent Metro network to 103 km by 2030.
