SARATOV, Russia (Fergana News) – Lukoil President Vagit Alekperov September 12 said the company plans to build a 1GW solar power station in Uzbekistan, Fergana News reported September 13.

Lukoil, the Uzbek government and the Asian Development Bank are working on the project, Alekperov told a forum of young Lukoil specialists.

Uzbekistan has more than 300 sunny days a year, Fergana News reported, adding the Centre for Economic Research of Uzbekistan argues that nearby energy-short countries like Afghanistan and Pakistan will provide a market.

Lukoil is a major international vertically-integrated oil & gas company, accounting for 2.2% of global output of crude oil:

• 2.2% of global production of crude oil
• The largest privately owned oil & gas company in the world by proved oil reserves
• 3^rd largest privately owned oil & gas company in the world by oil production
• 17.8% of Russian crude oil production and 18.2% of Russian crude oil refining
• One of the biggest Russian oil business groups with $100 billion revenue and net income in excess of $9 billion