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WB to assist Uzbekneftegaz in developing tariffs for consumers

Feb 09, 2018 (TREND News Agency via COMTEX) --

Baku, Azerbaijan, Feb. 9

By Nigar Guliyeva - Trend:

The World Bank (WB) plans to assist Uzbekneftegaz in developing a tariff policy in the field of gas supply in the domestic market, the company said in a message.

Deputy Chairman of the Board of Uzbekneftegaz Ulugbek Ashurov held talks with the WB mission on drafting of a General Scheme for the Development of Gas Supply and Gasification in Uzbekistan.

"The World Bank has been offered limited participation in drafting of the general scheme, by financing such separate components as assessment of economic efficiency and investment volumes, assistance in developing tariff policy," the report reads.

Ashurov stressed that reforms are expected in the industry, while the company seeks to increase presence in the international market.

Since April 1, 2018, the price for natural gas for domestic consumers in Uzbekistan is planned to increase by 10 percent.

over the past years, domestic gas consumption in Uzbekistan went up by 1.3 times and is about 50 billion cubic meters annually.

The proven reserves of natural gas in Uzbekistan are 1.1 trillion cubic meters. Total reserves are estimated at the level of 5 trillion cubic meters.

In 2017, gas production in Uzbekistan amounted to 56.4 billion cubic meters. This year, this figure is planned to be brought to 66 billion.

To meet the rapidly growing needs of the economy in energy resources, the Program for increasing hydrocarbon production for 2017-2021 is being realized in the country since last year, the cost of which is estimated at almost $4 billion.

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