Measures to ensure oil and gas market stability discussed in Uzbekistan
Baku, August 12, AZERTAC
President of Uzbekistan Shavkat Mirziyoyev reviewed measures to ensure stability in the oil and gas market and uninterrupted supplies of hydrocarbon resources to economic sectors and the population, the Uzbekistan National News Agency (UZA) reported.
The expansion of production capacity and the growing needs of the population are increasing demand for natural gas and petroleum products. Under these conditions, it is essential to ensure a stable supply of the necessary resources to the domestic market, anticipate seasonal demand, and prevent unjustified price increases.
The presentation reviewed the state of oil and gas production, imports, processing, storage, and supply to consumers. The need to accurately assess industry and regional requirements, prioritize domestic demand, and strictly adhere to supply schedules was emphasized.
The work being carried out by Uzbekneftegaz JSC to maintain stable natural gas production, make effective use of the potential of existing fields, and ensure the timely commissioning of new wells was discussed.
In August, 27 wells are scheduled for commissioning. Work at the Yangi Kultak, Niyoz, Koratau, Marvarid, and Tegirmon fields will enable additional natural gas production of 887 thousand cubic meters.
The President emphasized the importance of establishing daily oversight of all processes, from drilling wells to connecting them to the gas transmission system, as well as ensuring the uninterrupted operation of power supply and production infrastructure.
Particular attention was paid to ensuring a steady supply of raw materials to oil and gas enterprises, making efficient use of existing capacity, and increasing the production of goods in high demand on the domestic market.
President Shavkat Mirziyoyev noted the need to ensure the timely supply of hydrocarbon resources to the regions in sufficient volumes, build up the necessary reserves in advance, and ensure the coordinated operation of enterprises engaged in the production, transportation, and sale of products.
To maintain price stability, the importance of ensuring adequate market supply, offering products for trading on the commodity exchange in line with demand, and reducing production and logistics costs was emphasized. The Head of State instructed responsible officials to establish effective oversight to prevent unjustified restrictions on resource supplies, artificial shortages, and actions aimed at driving up prices.
Uzbekneftegaz JSC was tasked with ensuring full compliance with the established oil and gas production targets to maintain the balance between supply and demand in the domestic market, prevent disruptions in hydrocarbon supplies, and avoid unjustified price increases. The company was instructed to increase liquefied gas production to 606 thousand tons by the end of the year, up from the previously planned 520 thousand tons.
President Shavkat Mirziyoyev instructed officials to analyze domestic market demand daily, identify potential supply risks in advance, and take timely measures to address them.
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