US Investors Eye Up to $4 Billion Boost for Uzbekistan’s Energy Sector

Uzbek Energy Minister, Jurabek Mirzamahmudov, has disclosed that American investors are willing to commit between $3 billion and $4 billion to the country’s energy sector.

Mirzamahmudov outlined several flagship projects in the energy and chemical sectors, spotlighting plans for coal gasification and syngas production, which would feed into manufacturing ammonia, methanol, and other value-added chemical outputs, The Caspian Post informs via Tajik media.

To bolster cooperation, the Uzbek Ministry of Energy has entered into agreements with US energy service giants Schlumberger and Baker Hughes, aiming to modernize drilling operations via advanced technologies and improved management techniques.

Beyond upstream exploration, the state-owned Uzbekneftegaz has teamed up with American firm Gulf Oil to build a national network of fuel stations-an initiative expected to draw $100 million in investment.

Energy infrastructure modernization is also on the table. The US Export‑Import Bank (EximBank) has offered a credit line of $852 million to support upgrades to Uzbekistan’s gas transportation network, including the replacement of gas‑powered compressor units with electric motors. The total program, over the next two to three years, is estimated to cost more than $800 million.

Meanwhile, Air Products, a leading US industrial gases company, is expanding its footprint in Uzbekistan. The firm already has invested over $1 billion into projects such as gas-to-liquids (GTL) operations, hydrogen production in Fergana, CO₂ processing at NavoiAzot, and the development of a shock-freezing center.

During a visit to the US, Uzbek President Shavkat Mirziyoyev met with Air Products CEO Eduardo Menezes, where they agreed to expedite joint efforts on building a gas-chemical complex in Bukhara, deploying coal gasification facilities, and producing eco-friendly aviation fuel. A roadmap for these projects has already been approved.