INTERFAX
October 2

Uzbekistan's national oil and gas company Uzbekneftegaz plans to attract $1.5 billion in investment to develop export gas pipelines and reconstruct domestic pipelines by 2010, Ulugbek Nazarov, head of Uzbekneftegaz division UzLITIneftegaz, said.

The company hopes to attract foreign investment, including direct investment, to reconstruct compressor stations that are part of the Central Asia-Center transport system, build a booster compressor station at the Gazli underground gas storage facility, expand the Gazli-Nukus pipeline system, and build new gas pipelines to ensure the supply of natural gas to Uzbek consumers and exports, Nazarov said.

Uzbekneftegaz has drawn up several projects to intensify production of natural gas and oil in 2003-2007, he said.

Oil production projects will need capital investment of $132.4 million to increase production to 621,000 tonnes a year. Investment projects for production of natural gas and gas condensate will cost $1.4 billion.

The company also plans to increase production of liquefied natural gas at the Mubarek Gas Processing Plant and Shurtanov Gas Complex. Total investment to 2010 will top $319 million.

The projects will increase liquefied gas production to 615,000 tonnes by 2010 from 119,000 tonnes in 2002.

Nazarov said foreign investment in the oil and gas complex since 1991 has reached $1.8 billion, which is about 25% of total foreign investment in Uzbekistan in the period.

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