Uzbekistan And China Step Up Gas Cooperation With New Joint Projects
This was reflected in the statement by the Uzbekneftegaz, following meeting between Chairman Abdugani Sanginov and Zhang Jiajhen, chairman of the Board of Directors of China's Trans-Asia Gas Pipeline Company Limited (TAPLine).
According to the company, the meeting also highlighted the continued development of cooperation between Uzbekneftegaz and China National Petroleum Corporation (CNPC).
The sides described TAPLine as a reliable, long-term partner within the framework of the Asia Trans Gas joint venture, which plays a role in their cooperation in the gas transportation sector.
Furthermore, the discussions covered the composition of the supervisory board of Asia Trans Gas and the alignment of its internal regulations with current legislation. The parties also considered an initiative to develop the joint venture as a “first-class company,” as well as ways to improve coordination and cooperation mechanisms between shareholders.
Moreover, the sides exchanged views on profit distribution and other issues related to the joint venture's operations.
“Taking into account the current priorities, it is necessary to conduct an additional in-depth assessment of the economic efficiency, costs and implementation timelines of individual initiatives,” Sanginov said.
The Uzbekneftegaz chairman emphasized the need to carefully assess the commercial and operational implications of proposed initiatives before moving forward, according to the company.
At the conclusion of the meeting, the sides expressed readiness to further strengthen their existing partnership and continue dialogue on improving the efficiency of Asia Trans Gas and implementing mutually beneficial projects.
The talks underscore the continued role of Uzbekneftegaz's cooperation with Chinese energy companies, including CNPC and TAPLine, in the development of joint projects and gas transportation infrastructure.
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