Lukoil Confirms Uzbek Gas Headed to China, Not to Gazprom

摘要

Russia’s biggest private oil company Lukoil confirmed that gas production from its projects in Uzbekistan will go to China, which offers a much better price than Russian gas giant Gazprom, which is understood to have refused to purchase more volumes from the Central Asian country. Presenting its Uzbek projects to investors on Monday, Lukoil Vice President Leonid Fedun said that the Russian major aims to produce more than 80 million barrels of oil equivalent in the Central Asian country by 2018, 90% of which will be gas. This means that Lukoil will be producing some 12 billion cubic meters of gas per year by that time from its Kandym-Khauzak-Shady development and the Southwest Gissar project, where first gas was received at the end of December (IOD Jan.3’12).