(MENAFN- Trend News Agency) BAKU, Azerbaijan, October 2. Uzbekistan has uncovered significant potential for natural gas savings through the implementation of energy-efficient solutions in both industrial and household sectors, said Bahodirjon Sidikov, chairman of Uzbekneftegaz, Trend reports.

Speaking at the opening of the KAZENERGY Eurasian Forum in Astana, Sidikov emphasized that sustainable economic growth should remain the top priority and that reducing gas consumption must rely on alternative energy sources rather than a slowdown in industrial production or economic activity.

“Reducing consumption through declining industrial output and weakening economic activity is not a sustainable solution. Energy efficiency and alternative sources can ensure the same level of energy security for industry and households. Otherwise, economic slowdown leads to social and political pressures, forcing governments to adopt less sustainable measures,” Sidikov said.

He also emphasized the tactical leverage of concurrent project implementation, indicating that synergistic infrastructure across upstream and export initiatives can markedly reduce expenditures.

“Leveraging identical assets across diverse initiatives optimizes expenditure and amplifies operational efficacy.” One hydrocarbon conduit can facilitate multiple initiatives, optimizing capital outlay and enhancing profit margins,” he elucidated.

Sidikov concluded that in a globally competitive market, cost reduction is the key competitive advantage, making parallel project implementation and shared infrastructure both an effective and strategic necessity.

Uzbekneftegaz is Uzbekistan's largest state-owned oil and gas company, responsible for the exploration, production, transportation, and processing of hydrocarbons, including natural gas, liquid hydrocarbons, and petrochemicals. The company operates the country's oil and gas value chain, managing numerous fields and playing a central role in the national economy by supplying domestic needs and seeking export opportunities.

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