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Friday 14 October 2011

Uzbekistan Joins International Gas Union


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TASHKENT (Trend News Agency) – Uzbekistan became a member of the International Gas Union (IGU), the National Holding Company Uzbekneftegaz reported.

The IGU Council approved Uzbekistan as the Charter member at its meeting in Dubrovnik, Croatia on Oct.6, 2011. The IGU members welcomed the membership of Uzbekistan as one of the largest gas-producing countries. They noted that this decision has a “high potential for integration”, the company reported on Friday.

Uzbekneftegaz will represent the country at the Union.

The IGU was founded in 1931 and is a worldwide non-profit organization aimed at promoting the technical and economic progress of the gas industry. The Union has now 118 members worldwide in 77 countries on all continents, representing approximately 95% of the world gas market.

Uzbekistan is the second largest gas producer in the post-Soviet space and the tenth largest in the world. Uzbekneftegaz’s capacity allows providing natural gas production at 70 billion m³ and liquid hydrocarbons – 8 million tons per year.

Uzbekneftegaz reported that the country’s recoverable proven reserves amounted to 2.517 billion tons of oil equivalent, of which about 65% is natural gas reserves, in early 2011.

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