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NEWS: Uzbek-Chinese venture to construct gas-filling compressor stations in Uzbekistan
13 January 2015
- UTG-Kerui, an Uzbek-Chinese joint venture, will build a network of 46 gas-filling compressor stations in Uzbekistan in 2014-2016, the representative of the venture told RIA Novosti.
Construction of stations started in five regions of Uzbekistan and the network will be built in next three years.
UTG-Kerui was founded in 2014 on parity bases by Avtogaztaminot of Uzbekneftegaz and Shandong Kerui Petroleum Equipment Co,. Ltd of China.
The venture will exploit gas-filling compressor stations. The project for US$70 million will be financed due to resources of the founders of the joint venture.
Avtogaztaminot (part of Uzbekneftegaz, Uzbekistan) and Kogas, Kolon, Kwangshin, EngineTech (South Korea) founded Kor UNG Investments in 2011.
The venture should construct a network of 60 gas-filling compressor stations in Uzbekistan with the cost of US$105 million. The Korean side supplied equipment for four stations in 2012. In 2014, the Korean side refused from the project due to financial disputes with the Uzbek side.
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UZDAILY.
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