Search Site

ADNOC Gas awards contracts

The $2.1bn contracts are aimed at enhancing LNG supply infrastructure.

ADNOC L&S buys stake in Navig8

The company will acquire the remaining stake in mid-2027.

DAE to acquire Nordic Aviation Capital

The terms of the transaction have not been disclosed.

Emirates’ first A350 takes flight

The airline operated the inaugural flight from Dubai to Edinburgh.

NDMC arranges $2.5bn credit facility

The Shariah-compliant facility spans a tenure of three years.

Putin launches Russian gas shipments to Uzbekistan

Moscow relies heavily on energy revenues but has seen export plummet amid since the Ukraine offensive. (AFP)
  • Despite being home to a wealth of natural  resources including gas, the Central Asian country of Uzbekistan has faced energy shortages.
  • Russian gas exports decreased by 21.5 percent in 2022 - as its largest buyer the European Union drastically reduced imports.

Moscow, Russia – Russian Vladimir Putin on Saturday announced the start of gas supplies to Uzbekistan via Kazakhstan, a boost for Russia’s industry hit by a flurry of Western sanctions over the offensive in Ukraine.

Despite being home to a wealth of natural  resources including gas, the Central Asian country of Uzbekistan has faced energy shortages.

Moscow meanwhile relies heavily on energy revenues but has seen export plummet amid since the offensive.

“This is the largest trilateral energy project” between the three ex-Soviet countries, Putin said, after formally launching the shipment.

He was hosting a meeting in Moscow with his Uzbek and Kazakh counterparts, Shavkat Mirziyoyev and Kassym-Jomart Tokayev.

“The timely implementation of such… project shows that Russia, Kazakhstan, and Uzbekistan are capable of tackling the most complex and ambitious tasks,” Putin said.

“Kazakhstan will be able to solve the issue of gasification of its northern and eastern regions” while Uzbekistan will “gain another source of energy”.

Putin added that the leaders would during the afternoon discuss further cooperation in the energy sector as a whole.

Russia’s offensive against Ukraine has rattled nerves in Central Asian nations, including Kazakhstan, which has sought to distance itself from Moscow.

But the former Soviet states retain close political and economic ties with Russia.

Russian gas exports decreased by 21.5 percent in 2022 as the European Union, once the largest buyer of Russian gas, drastically reduced imports.