Uzbekistan’s gas imports could reach 11 billion cubic meters by 2030

Speaking on the Lolazor podcast, Mirzamakhmudov explained that Uzbekistan aims to boost its domestic gas production to 62 billion cubic meters by 2030, as part of the "Uzbekistan 2030" strategy. However, he also acknowledged the decline in gas output over recent years. In 2023, gas production fell by 9.6%, or 4.97 billion cubic meters, compared to 2022, reaching 46.7 billion cubic meters. This trend continued into 2024, with production between January and August down 4.6% from the previous year, and 25% lower than the same period in 2019.

As natural gas reserves at existing fields near depletion, the minister emphasized the need for increased gas imports to meet rising demand driven by economic growth and a growing population. Mirzamakhmudov noted that Uzbekistan plans to import 10-11 billion cubic meters of natural gas annually by 2030 to ensure a stable supply.

He also highlighted the challenges of geological exploration in the Ustyurt region, where Uzbekistan is pinning hopes for new gas discoveries. "Opening and developing a new field takes three to five years. Unfortunately, geological surveys have not been conducted in a timely manner, and 85% of our fields are depleting," Mirzamakhmudov stated. Compression stations have been installed at nearly all fields, including the major gas-producing Ustyurt region, to boost efficiency.

Mirzamakhmudov further explained that despite efforts by international partners like Halliburton and Schlumberger, the results of geological and geophysical surveys in the Ustyurt region remain uncertain. Should significant reserves be discovered, the need for gas imports may decrease; otherwise, imports will remain crucial.

In 2023, Uzbekistan imported $1.15 billion worth of gas during the first eight months, marking a 5.7-fold increase from the same period in 2022. Additionally, Uzbekistan began importing gas from Russia in reverse mode through Kazakhstan in October 2023. To facilitate this, the country plans to invest $500 million in modernizing its gas transportation system.

Uzbekistan’s reliance on gas imports is seen as a strategic move to ensure energy security, address seasonal demand fluctuations, and diversify sources of supply. The expansion of imports from Russia is also part of efforts to secure guaranteed energy supplies.