Central Asian Gas Giant to Be Split as Uzbekistan Woos Foreign Cash
- Central Asian nation is slowly opening to outside investment
- Government may also sell part of its stake in Uzbekneftegaz
An Uzbekneftegaz gas truck.
Photographer: Denis Sinyakov/AFP via Getty Images
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Uzbekistan plans to split up its state energy company amid efforts to boost efficiency, improve transparency, and attract foreign capital.
The overhaul comes as Central Asia’s most populous nation -- and one of the top three natural-gas producers in the former Soviet Union -- opens up after decades of isolation. The government has stepped up efforts to bring in more outside investment as it targets a 17% increase in gas production by 2025.