Uzbekistan, Cargill launch $3B scheme to back sustainable energy development

[ad_1] TASHKENT, Uzbekistan, December 13. Uzbekistan has agreed to get long-term funding of as much as $3 billion, with an extra $5 billion probably obtainable, to bolster renewable vitality initiatives, Pattern studies by way of Uzbekneftegaz.

The settlement was concluded between UNG Abroad, the worldwide commerce and funding subsidiary of Uzbekneftegaz JSC, and the US-based company Cargill.

The principle goal of the partnership is to reinforce the nation’s vitality safety, enhance the resilience of useful resource provide, and assist sustainable improvement. Inside the framework of the initiatives, financing will probably be thought-about for areas such as:

• making certain secure vitality provide for the inhabitants and business,

• decreasing systemic dangers and modernizing infrastructure,

• bettering the effectivity of vitality and water useful resource administration,

• sustaining environmental stability,

• boosting industrial competitiveness, and

• reinforcing Uzbekistan’s vitality independence.

Underneath the settlement, UNG Abroad will coordinate strategic engagement with worldwide companions, whereas Cargill will provide sensible options based mostly on its international experience in structured financing.

In the meantime, in October 2025, Uzbekneftegaz JSC established a brand new subsidiary within the United Arab Emirates—Orient Power Restricted, which operates underneath the worldwide model UNG Abroad. The newly established firm is tasked with attracting funding from worldwide monetary establishments and buyers to implement large-scale initiatives within the vitality, infrastructure, and industrial sectors.

Based in 1992 and restructured right into a nationwide holding firm in 1998, Uzbekneftegas is a state-owned entity overseeing Uzbekistan's oil and gasoline sector. Uzbekneftegaz heads a partnership of Korea Nationwide Oil Company, China Nationwide Petroleum Company, and Lukoil, engaged within the exploration and improvement of gasoline condensate reserves within the Aral Sea. It, along with the China Nationwide Petroleum Company, possesses and manages the Uzbek section of the Central Asia–China gasoline pipeline. Uzbekneftegaz has a manufacturing sharing settlement with Gazprom for gasoline exploration, joint ventures with Prista Oil for motor oil and lubricant manufacture, and with Ariston Thermo for heating boiler manufacturing.