Uzbekneftegaz may join Shah Deniz project

Uzbekistan's national oil and gas company, Uzbekneftegaz, plans to participate in the project to develop the Shah Deniz gas field in the Azerbaijani sector of the Caspian Sea, Uzbek Investment, Industry and Trade Minister Laziz Kudratov told reporters in Guba.

"Uzbekneftegaz and SOCAR (State Oil Company of Azerbaijan) could sign an agreement in the coming months for the Uzbek company to join the Shah Deniz project," Kudratov said.

According to him, Uzbekneftegaz is discussing with SOCAR its participation in upstream oil and gas projects in Uzbekistan.

"Similarly, the issue of Uzbekneftegaz joining upstream gas enterprises in Azerbaijan is being discussed and is at the final stage," Kudratov said.

The minister noted that the size of the stake in the project is being discussed.