US-based Gulf Oil plans to open up to 100 gas stations across Uzbekistan

Uzbekneftegaz and US-based Gulf Oil signed a $100 million memorandum of understanding to establish a network of gas stations across the country.

The project will be fully implemented by the foreign investor, Spot reported with reference to the Ministry of Energy.

In particular, the plan includes the construction of up to 100 gas stations in all regions of Uzbekistan. The first stations will be opened along major highways as part of efforts to develop roadside infrastructure.

Fuel will be purchased on the Uzbek Commodity Exchange (UzRCE) under standard regulations, as well as imported independently. “There will be no special privileges or direct supplies from Uzbekneftegaz,” the ministry emphasized.

The ministry explained that Uzbekneftegaz was chosen as a state partner because the American company needs a local counterpart to advance the project in Uzbekistan.

During President Shavkat Mirziyoyev’s recent visit to New York to attend the UN General Assembly’s anniversary session, Uzbekistan and the United States reached agreements on energy projects worth $3–4 billion.